Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (1) TMI 1553 - ITAT MUMBAIAddition u/s 14A r.w.r. 8D - CIT-A deleted the addition - whether assessee’s case is not covered by the ratio of case of HDFC Bank [2014 (8) TMI 119 - BOMBAY HIGH COURT] and Reliance Utilities [2009 (1) TMI 4 - BOMBAY HIGH COURT]? - HELD THAT:- We observe that in this case the ld. CIT(A) has recorded a finding of fact that assessee’s own funds are far more than the investments in the securities and therefore no disallowance is called for in pursuant to the decision in the case of HDFC Bank (supra). Accordingly, we are inclined to uphold the order of CIT(A) on this issue by sustaining the appeal of the Revenue. - Decided against revenue.
|