Investments yielding dividend to be considered to compute Section 14A disallowance

Religare Securities Ltd. Vs DCIT (ITAT Delhi) Conclusion: Only those investments which had yielded dividend income for computing the average value of investments would be considered for the purpose of computing the amount of disallowance u/s 14A. Held: In the instant case, as far as assessee’s additional ground was concerned which challenged the disallowance made u/s 14A, it was seen that in Assessment Year 2008-09 on the issue of disallowance u/s 14A, the Co-ordinate Bench of the Tribunal had considered the issue of disallowance and remitted the issue back to the file of AO to work out of t...