2018 (9) TMI 722 - SCH - Income Tax

Disallowance u/s 14A - Expenses in relation to income not forming part of total income - whether Tribunal erred in not appreciating that the disallowance as computed under Section 14A was in terms of the formula prescribed in Rule 8D of the Income Tax Rules, 1962? - Held that - The present appeal is covered by the decision of this Court in Commissioner of Income Tax 5, Mumbai vs. Essar Teleholdings Limited 2018 (2) TMI 115 - SUPREME COURT OF INDIA . Appeal dismissed.

Summary

The Supreme Court granted leave and dismissed the appeal based on the decision in Commissioner of Income Tax 5, Mumbai vs. Essar Teleholdings Limited (2018) 3 SCC 253.