Consider only investments which actually yielded dividend income for section 14A: ITAT Kolkata

DCIT Vs Kesoram Industries Ltd. (ITAT Kolkata) The grievance raised by the assessee in their appeal in ITA No. 1650/Kol/2019 is against the disallowance u/s 14A of the Act read with Rule 8D(2)(iii) of the IT Rules. After considering the rival submissions and perusing the relevant material on record, we find that the issued involved in this appeal is identical to that of Ground Nos. 1 to 3 of the appeal of the assessee in AY 2014­-15. We therefore follow our conclusions drawn on this issue in AY 2014-15 and accordingly uphold the Ld. CIT(A)’s order directing the AO to consider only the openi...