Disallowance u/s 14A r.w.r. 8D - Addition of interest ...

Case Laws Income Tax

February 27, 2024

Disallowance u/s 14A r.w.r. 8D - Addition of interest expenditure - The ITAT found substantial merit in the alternative contention of learned counsel for the assessee that the disallowance under Rule 8D(2)(iii) should be computed with reference to investments giving rise to exempt income during the year and not the entire investment, which might give rise to exempt income in further. Accordingly, AO directed to recompute the disallowance under Rule 8D(2)(ii).

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Disallowance u/s 14A r.w.r. 8D - Addition of interest ...

Case Laws Income Tax

February 27, 2024

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