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TMI Blog2020 (7) TMI 187X X X X Extracts X X X X X X X X Extracts X X X X ..... of Ld. CIT(A) - 10, Kolkata dated 26.06.2019 and the solitary issue involved therein relates to the disallowance made by the AO u/s 14A of the Act r.w.r. 8D which is partly sustained by the Ld. CIT(A). 2. The assessee in the present case is an individual who filed her return of income for the year under consideration on 27.09.2013 declaring a total income of Rs. 6,88,260/-. In the said return, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the arguments of both the sides on this issue and also perused the relevant material available on record. As regards the disallowance made u/s 14A on account of interest as worked out as per Rule 8D(2)(ii), the learned counsel for the assessee has submitted that the entire investment in shares was made by the assessee out of her own funds and it is observed that this position was accepted by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3022 of 2013 (ITAT No. 161 of 2013) judgement dated 23.12.2013, we direct the AO to re-compute the disallowance to be made by applying Rule 8D(2)(iii) taking into consideration only the value of investment in shares which actually fetched exempt dividend income to the assessee during the year under consideration. 4. Before parting, it is noted that the order is being pronounced after ninety (90) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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