TMI Blog2023 (12) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... at 1% on whole investment under Rule 8D(2)(iii) - HELD THAT:- We note that the assessee calculated average investment at Rs. 1,07,12,445/- which have yielded the dividend income of Rs. 74,52,725/-, but however, the AO did not satisfy with the said submissions as made by the assessee to consider those investments which yielded exempt income for the purpose of computing disallowance of expenditure. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exempt income for its fresh consideration. The assessee is liberty to file evidences, if any, in support of its claim. Thus, the grounds raised by the assessee are allowed for statistical purpose. - Shri R.S. Syal, Vice President And Shri S.S. Viswanethra Ravi, Judicial Member For the Assessee : Shri Rahul Sarda For the Revenue : Shri P.S. Shivshankar ORDER PER S.S. VISWA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee not followed the methodology as contemplated under Rule 8D(2) of the Rules, the AO made disallowance at 1% on whole investment under Rule 8D(2)(iii) of the Rules taking into account the total average investment of Rs. 18,04,08,859/-. On perusal of the assessment order, we note that the assessee calculated average investment at Rs. 1,07,12,445/- which have yielded the dividend income of Rs. 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents which yielded income shall be considered for the purpose of computing expenditure in relation to exempt income. The ld. DR did not dispute the finding of Special Bench of Delhi Tribunal. Thus, taking into consideration the facts and circumstances of the case, we deem it proper to remand the issue to the file of AO to make disallowance considering those investments which yielded exempt income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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