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ITAT Kolkata Deletes Interest Disallowance as AO Exceeded Scope of Limited Scrutiny
Case Law Details
- Case Name
- Chatterjee Asset Holdings Pvt. Ltd. Vs ACIT (ITAT Kolkata)
- 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 Kolkata
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Chatterjee Asset Holdings Pvt. Ltd. Vs ACIT (ITAT Kolkata)
The appeal was filed against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi for Assessment Year 2017-18. The Tribunal dealt with two substantive issues: disallowance under Section 14A read with Rule 8D and disallowance of interest expenditure under Section 36(1)(iii).
Regarding the first issue, the Assessing Officer had disallowed Rs. 12,42,107 under Section 14A read with Rule 8D as expenditure allegedly related to earning exempt income. The assessee had already made a suo motu disallowance of Rs. 1,02,042. Subsequen...
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