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No Extra 14A Disallowance When Suo-Moto Exceeds Exempt Income: ITAT Mumbai
Case Law Details
- Case Name
- Bennett Coleman & Co. Ltd. Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
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Bennett Coleman & Co. Ltd. Vs DCIT (ITAT Mumbai)
Indexation Allowed in MAT Book Profits -No Extra 14A Disallowance When Suo-Moto Exceeds Exempt Income – Mumbai ITAT
The appeal was filed by Bennett Coleman & Co. Ltd. against the order of CIT(A), NFAC, Delhi dated 27.03.2024. The primary issue concerned disallowance u/s 14A r.w.r. 8D. Assessee earned exempt dividend income of Rs.2.16 crore & had suo-moto disallowed Rs.8.92 crore in computation. AO, without pointing out any defect in the working, invoked Rule 8D & enhanced disallowance to Rs.15.18 crore, thereby making an additi...
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