Case Law Details
Case Name : IDFC Limited Vs DCIT (ITAT Chennai)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Chennai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
IDFC Limited Vs DCIT (ITAT Chennai)
Conclusion: AO was directed to limit the disallowance under Section 14A to 0.5% of exempt income earned by the assessee based on Rule 8D(2)(iii) as held by the Ld. Special Bench of ITAT, New Delhi in the case of ACIT vs. Vireet Investment Pvt. Ltd. in ITA No.502/Del/2012 dated 16.06.2017, which ratio had been upheld by the Hon’ble Bombay High Court.
Held: Assessee-company received dividend income of Rs. 134.25 crore and claimed a net exempt income of Rs. 133.50 crore under Section 10(34). It all
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.