Ma Kalyaneshwari Holdings Pvt. Ltd. vs Deputy Commissioner of Income Tax – Central

Parties Involved

Facts Summary

This case involves an appeal by the revenue against the order of the National Faceless Appeal Centre, Delhi, passed under section 250 of the Income-tax Act, 1961, for the Assessment Year 2013-14. The sole issue pertains to the disallowance of expenses under section 14A r.w.r. 8D at Rs.29,56,766/- being exempt income earned during the year. The assessee argued that the Assessing Officer wrongly computed the amount of disallowance of expenses, claiming that the assessee earned only Rs.8,669/- as dividend income. The assessee provided computation details and supporting documents to substantiate their claim.…

Legal Issues

• 1. Confirmation of disallowance of expense u/s 14A r.w.r. 8D at Rs.29,56,766/- being exempt income earned during the year.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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