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Sylvex Cable Co. Pvt. Ltd. Versus Dy. CIT, Central Circle-37, Mumbai

Disallowance u/s 14A - Held that:- We find force in the submissions of the assessee that only those investments which would yield dividend and which is exempt should be considered for disallowance under Rule 8D(2)(iii). We also hold that the disallow .....

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xceed the dividend income earned by the assessee. - Decided in favour of assessee for statistical purpose. - ITA No. 8581/Mum/2011 - Dated:- 24-2-2016 - C. N. Prasad (Judicial Member) And Rajesh Kumar (Accountant Member) For the Appellant : None .....

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see inspite of notice by RPAD. Therefore we heard the Ld. Departmental Representative and dispose of this matter ex parte on merit. 3. The Ld. Departmental Representative submits that the AO while completing the assessment noticed that the assessee r .....

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computed the disallowance u/s. 14A r.w. Rule 8D(2)(iii) being 0.5% of the average value of investment shown in the balance sheet and therefore the action of the AO is correct. 5. We find from the assessment order that the assessee in the course of as .....

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ng in balance sheet. 5.1. The assessee before the Ld. CIT(A) submitted that the AO erred in applying Sec. 14A and making disallowance of interest and other expenses of ₹ 39,63,654/-. It was further contended that in any event, the AO is not jus .....

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