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PRADEEP KHANNA Versus ACIT CIRCLE 30 (1) DELHI

2016 (8) TMI 1234 - DELHI HIGH COURT

Disallowance u/s 14A - Held that:- It was firstly incumbent upon to in fact examine the accounts closely and determine if at all any expenditure could be ascribed to the tax exempt dividend/interest earned by the assessee. If indeed the tax exempted .....

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The matter is remitted to the AO for fresh determination in accordance with the judgment of this court in Taikisha Engineering Private Limitedís case (2014 (12) TMI 482 - DELHI HIGH COURT ). - I. T. A. No. 953 of 2015 - Dated:- 11-8-2016 - HON'B .....

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D E R 1. Admit. 2. With the consent of counsels for the parties appeal was heard. 3. The following question of law arises for consideration of this court: Did the ITAT fall into error in upholding the decision of the lower authority viz-a-viz the dis .....

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g to apply the statutory disallowance under Section 14A read with Rule 8D of the Income Tax Rules, the AO ascribed a sum of ₹ 1,21,805/- and added it back to the taxable income. The assessee contends that the methodology adopted and entire appr .....

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without the interaction of any special personnel. The revenue on the other hand urged that the assessee carries on business and in the course of such business he engaged an accountant who was also tasked with the job of looking after the accounts an .....

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Pradeep Khanna vs. ITO Ward-23 (1) New Delhi ITA No.1250/Del/2014. 6. In Taikisha Engineering Private Limited s case (supra) this court had after analysing Section 14A and Rule 8D (of the Income Tax Rules) held as follows: Sub-rule (1) categorically .....

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income which does not form part of the total income under the Act, can go on to determine the disallowance under sub rule (2) to Rule 8D of the Rules. Sub-rule (2) will not come into operation until and unless the specific precondition in sub-rule ( .....

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