M/s. Trustline Holdings Pvt. Ltd. vs. DCIT

Parties Involved

Facts Summary

The appeal by the assessee for the Assessment Year 2017-18 arises out of the order passed by the Commissioner of Income Tax (Appeals) on 30-03-2024. The assessee earned exempt dividend income of Rs.17.97 Lacs and exempt Long Term Capital Gains. The Assessing Officer computed a disallowance of Rs.12.25 Lacs under section 14A r.w rule 8D(2)(ii). The Commissioner of Income Tax (Appeals) confirmed the disallowance. The assessee argued that only investments yielding exempt income should be considered for the computation of indirect expenses disallowance.…

Legal Issues

• 1. Disallowance u/s.14A r.w rule 8D(2)(ii) for Rs.12.25 Lacs

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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