[aaykarbhavan] Revisionary order of CIT set aside as AO had correctly made sec. 14A disallowance in compliance with Rule 8D

Revisionary order of CIT set aside as AO had correctly made sec. 14A disallowance in compliance with Rule 8D

July 31, 2014[2014] 46 taxmann.com 348 (Pune - Trib.)

IT : When there was no material on record showing that interest paid by assessee was attributable to funds borrowed for investment in material funds which yielded exempt income, impugned disallowance made in terms of clause (ii) of sub-rule (2) of Rule 8D deserved to be deleted

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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