2013 (11) TMI 529

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..... ue under Section 260A of the Income Tax Act, 1961 has to be dismissed for multifarious reasons. The assessee had earned exempt dividend income of Rs.1,96,57,658/-. The respondent- assessee had themselves disallowed Rs.17,26,027/- as expenditure incurred on earning of exempt income under Section 14A of the Act. The Assessing Officer did not record any finding that the said disallowance was low or n .....

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..... issioner (Appeals) has relied and referred to Rule 8D and has recomputed the disallowance on the basis of applicable and correct figures. These figures are not disputed by the Revenue in the present appeal in the grounds. We fail to understand how and why, therefore, this appeal has been filed. The tribunal may have made an observation that Rule 8D is not retrospective but that is inconsequential .....

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