Case Law Details
Case Name : Sesa Resources Ltd. Vs ACIT (ITAT Panaji)
Appeal Number : IT Appeal No. -252 & 267 of 2015
Date of Judgement/Order : 20/08/2015
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Panaji
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Brief of the case :
- The ITAT bench of Panaji in the case of Sesa Resources Limited held that the disallowance under Sec 14A read with rule 8D can be made only in respect of investments which are earning income exempt from tax and not the total investments.
- Thus, in the present case AO made a factual error by taking the figure of total investments while working out disallowance as per formula prescribed in Rule 8D.
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