Thursday, 7 January 2016

CIT(A) can't make sec. 14A disallowance on ad-hoc basis without following method prescribed under ru

IT: When assessee itself admitted that a disallowance had to be made with regard to expenditure for earning of income which was exempted from taxation under Act, such expenditure had to be computed not on ad hoc basis by estimating same but as per method prescribed under rule 8D(2)

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