Case Law Details
Case Name : S. Vinodkumar Diamonds, Pvt Ltd. Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Mumbai
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S. Vinodkumar Diamonds, Pvt Ltd. Vs DCIT (ITAT Mumbai)
The issue under consideration is whether the disallowance u/s 14A can exceed the exempt income?
ITAT states that during the year under consideration the assessee has earned exempt income of Rs. 1.62 lakhs only. The AO disallowed interest expenses under Rule 8D(ii) of Rs. 30,13,853/-. They have perused the profit and loss account of the assessee copy of which is available in the paper book filed by the assessee. They ha
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