2018 (9) TMI 883 - SCH - Income Tax

Disallowance under Section 14A - calculation of disallowance figures - Tribunal did not accept the figure of disallowance worked out by the assessee - Held that - In this Special Leave Petition, the tax effect is less than rupees one Crore and is covered by the Circular of CBDT. Accordingly, the Special Leave Petition is dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition as the tax effect was less than one crore rupees and covered by CBDT Circular. The question of law remains open.