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

Tribunal Rules Interest Disallowance Limited to Investments Yielding Exempt Income, Orders Recalculation by Assessing Officer.

February 27, 2024

Case Laws Income Tax AT

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 ...

Tribunal Rules Interest Disallowance Limited to Investments Yielding Exempt Income, Orders Recalculation by Assessing Officer.

February 27, 2024

Case Laws Income Tax AT

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