Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Short Notes

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

2019 (7) TMI 354

the assessee is having own interest free funds comprising of share capital, reserves and surplus aggregating to ₹ 7,54,94,323/-, as against the investments of ₹ 4,26,14,226/-. Since, the assessee’s own interest free funds are sufficient to cover the investments it is presumed that entire investments are made from non-interest bearing funds. The Hon’ble Jurisdictional High C .....

X X X X X X X

Full Text of the Document

X X X X X X X

alf of the assessee submitted that the solitary issue raised in appeal by the assessee is with respect to disallowance made u/s. 14A r.w. Rule 8D(2)(ii) of the Act. The ld. AR submitted that the assessee is a private limited company engaged in the business of manufacture and sale of Inorganic and Micronutrient Mixture Fertilizers. The assessee had filed return of income for the impugned assessment .....

X X X X X X X

Full Text of the Document

X X X X X X X

ture u/s. 14A was made in assessment years 2008-09 and 2010-11. The issue travelled to the Tribunal. The Tribunal in ITA No. 638/PUN/2017 for assessment year 2008-09 decided on 28-09-2018 and ITA No. 137/PUN/2015 for assessment year 2010-11 decided on 18-10-2017 deleted the disallowance in respect of interest expenditure under Rule 8D(2)(ii). The ld. AR further in support of her contentions referr .....

X X X X X X X

Full Text of the Document

X X X X X X X

r.w. Rule 8D(2)(ii) of the Act. The ld. AR has drawn our attention to the Balance sheet as on 31-03-2012 at page 7 of the paper book. A perusal of Balance sheet shows that the assessee is having own interest free funds comprising of share capital, reserves and surplus aggregating to ₹ 7,54,94,323/-, as against the investments of ₹ 4,26,14,226/-. Since, the assessee s own interest free .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||