Thursday, 29 January 2015

AO could invoke sec. 14A disallowance even if assessee had utilized mixed funds for earning tax free

IT : Where funds utilized by assessee was mixed funds and, hence, interest paid on borrowed fund was also relatable to interest on investment made in tax free funds, interest expenditure relatable to investment in tax free funds was to be computed under provisions of Rule 8D(2)(ii)


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