This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No Addition u/s 14A for Non Consideration of Share Application Money as Investment Yielding Exempt Income
Case Law Details
- Case Name
- Kumar Urban Development Ltd Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Kumar Urban Development Ltd Vs ITO (ITAT Pune)
The issue under consideration is whether the addition made by AO u/s 14A read with rule 8D is justified in law?
In the present case, the assessee made suo moto disallowance u/s.14A in terms of Rule 8D. The Assessing Officer (AO) observed that the assessee did not offer proper disallowance. He made his own calculation of assessment the order and worked out the amount disallowable. The differential amount was disallowed. The assessee submitted before the ld. CIT(A) that the difference in assessee’s calculation and that of AO arose primarily becaus...
