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No s. 14A disallowance if loan utilized for capital contribution in Partnership Firm
Case Law Details
- Case Name
- Assistant Commissioner of Income-tax 12(3) Vs Novel Enterprises (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- ITAT Mumbai
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IN THE ITAT MUMBAI
Assistant Commissioner of Income-tax 12(3)
V/s.
Novel Enterprises
IT APPEAL NO. 1328 (MUM.) OF 2009
[ASSESSMENT YEAR 2005-06]
JUNE 13, 2012
ORDER
Vivek Varma, Judicial Member
The appeal filed by the department emanates from the order of the CIT(A)-XII, Mumbai, dated 16.12.2008.
2. The grounds raised by the department are as under :-
1. “On the facts and circumstances of the case and in law, the ld. CIT(A) erred in directing the A.O. to delete the addition of Rs. 33,08,179/- u/s 14A made on account of notional interest of paid to Reliance Capital Lt...
