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Disallowance Under Rule 8D Valid When No satisfactory explanation given
Case Law Details
- Case Name
- Inter Globe Finance Limited Vs DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Kolkata
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Inter Globe Finance Limited Vs DCIT (ITAT Kolkata)
No breach of Natural Justice when reply considered – Rule 8d(2)(iii) invoked validly by AO for Section 14A disallowance in absence of satisfactory explanation; ITAT Kolkata Upholds ₹14.32 Lakh Disallowance u/s 14A: No Evidence Provided by Assessee; No Violation of Natural Justice in 14A Disallowance When Show Cause Was Replied To.
The key issues involved are
1) Validity of Section 14A disallowance of ₹14.32 lakh (1% of investments).
2) Alleged addition of exempt dividend income of ₹3.38 lakh—whether actually made.
3) Allegation o...
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