M/s Bluediamond Tracom Pvt Ltd Vs ITO Ward-3(1), Kolkata
Case No: ITA No.1752/KOL/2025
Court: Income Tax Appellate Tribunal ‘SMC’ Bench, Kolkata
Date: 11/21/2025
Parties Involved
appellantM/s Bluediamond Tracom Pvt Ltd
respondentITO Ward-3(1), Kolkata
Facts Summary
The assessee, M/s Bluediamond Tracom Pvt Ltd, had made an investment in equity shares. During the assessment proceedings for the Assessment Year 2014-2015, the Assessing Officer disallowed the investment under Section 14A read with Rule 8D, arguing that there must be administrative costs for maintaining the investment despite no exempt income being earned. The Assessing Officer's disallowance was confirmed by the ld. CIT(A). The assessee then appealed to the Tribunal, arguing that no exempt inco…
Decision in favour of
Assessee
Legal Issues
- 1. Disallowance made by the Assessing Officer under Section 14A read with Rule 8D when there was no exempt income earned by the assessee.
Precedents Relied Upon
2 precedents cited in this judgement.