S. 14A Consider only those investments which yielded exempt income: ITAT

Brics Securities Ltd. Vs DCIT (ITAT Mumbai)

So far as disallowance u/s 14A read with Rule 8D is concerned, as per Ld. AR’s submissions, additional disallowance of Rs.45,606/- arises only on account of the fact that the assessee has excluded those investments which have yielded no exempt income during impugned AY or which were not capable of yielding any exempt income while arriving at the disallowance u/r 8D whereas Ld. AO has considered the Gross Investments whether or not the same has yielded any exempt income. We find that the actio

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