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2020 (9) TMI 578 - MADRAS HIGH COURTDisallowance u/s 14A read with Rule 8D - exclude the interest on term loan and cash credit accounts for calculation - HELD THAT:- As decided in own case [2020 (9) TMI 91 - MADRAS HIGH COURT] remand the matter for a fresh consideration to the Assessing Officer to enable him/her to consider the entire matter afresh without, in any manner, curtailing exercise of his/her power as an Assessing Officer. Tribunal did not give independent reasons as to why, in its opinion, the direction issued in the case of Beach Miners Co. Pvt. Ltd. [2015 (8) TMI 1031 - ITAT CHENNAI]should also apply to the case of the assessee. Tax case appeal is allowed, the findings/observations made by the Tribunal in paragraph 11 of the impugned order are set aside and the order of remand is confirmed.
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