2019 (8) TMI 811 - SCH - Income Tax

Disallowance u/s 14A r.w.r 8D - AO has not recorded his satisfaction regarding the correctness of the self disallowance made by the assessee - HELD THAT - Since the tax effect involved in the matter is less than ₹ 2 crores, going by the latest circular issued by the CBDT, we see no reason to interfere in this matter. The special leave petition is dismissed, leaving all the questions of law open.

Summary

The Supreme Court dismissed the special leave petition as the tax effect was less than Rs. 2 crores, following a CBDT circular. All questions of law remain open. Pending applications will be disposed of.