2016 (3) TMI 1389

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..... ed to the P L Account? - assessee submitted that the disallowance made by the AO has far exceeded the total claim of expenditure in the P L Account - HELD THAT:- As relying on assessee's own case [ 2014 (1) TMI 1183 - ITAT MUMBAI ] we agree with the Ld Counsel s argument and remand the matter to the file of the AO. We direct the AO to apply the said ratio to the facts of the present case and o .....

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..... read with Rule 8D of the Act. In connection with this issue, Ld Counsel for the assessee submitted that the disallowance made by the AO has far exceeded the total claim of expenditure in the P L Account. Bringing our attention to the order of the Tribunal in assessee s own case for the AY 2008-2009 in ITA No. 7598/M/2011, dated 22.1.2014, copy of which is placed on record, and submitted that the T .....

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..... . We are of the considered view that a reasonable allocation of expenditure has to be made which can be attributed to the income which is chargeable to tax particularly bank interest income of ₹ 28.50 Crs as against dividend income of ₹ 12.46 Crs (approximately). Considering the facts and circumstances of the case, we are of the considered view that expenditure of ₹ 7,21,927/- as .....

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