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The Pr. Commissioner of Income Tax Versus Interglobe Enterprises Ltd.

2016 (9) TMI 552 - DELHI HIGH COURT

Addition u/s 14A - Held that:- Rule 8D (iii) clearly postulates that in the calculation of the disallowance amount, ďan amount equal to one - half percent of the value of the investment, income from which does not or shall not form part of the total .....

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ances, we are of the opinion that no question of law arises. - ITA 456/2016 - Dated:- 19-8-2016 - S. Ravindra Bhat And Deepa Sharma, JJ. For the Appellant : Mr.Ruchir Bhatia, Sr.Standing Counsel and Mr.Puneet Rai, Jr.Standing Counsel For the Responde .....

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opted by the AO under Section 14A of the Act read with Rule 8 (D) is involved. The assessee had during the relevant year i.e. AY 2010 - 2011 declared certain amounts as tax exempt. Seeking to disallow amounts under Section 14A read with Rule 8D, the .....

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on of Rule 8D was made in a faulty manner. It was noticed that the disallowance on account of expenditure incurred for the exempt income can be restricted on those investments only where the assessee had earned exempt income. 2. The revenue s content .....

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