ITR 4 & Rule 8D

This query is : Resolved

hardik (Querist)
Follow

14 September 2009 Dear Sir,

A new rule, rule 8D is introduced according to which a certain amount of interset expense is disallowed. I have made the working for disallowed expenses but am not sure where to disclose it in ITR 4. Please advice, also if you have some case laws on the said rule please forward me. my email id is hardiktk@yahoo.co.in

Thanks and Regards

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

14 September 2009 In ITr - 4 in Schedule BP - Computation of income from business or profession
8) Expenses debited to profit and loss account which relate to exempt income

There to disclose disallowance u/s 14A

hardik

hardik (Querist)
Follow

14 September 2009 Thank You, Mr. Maheshwari.

Do you have any landmark jugements in respect of section 14A.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

15 September 2009 Citation:- 1) Metro Exports Ltd Vs. ITO (2009) 29 SOT 531 (Mum-Trib). Held disallowance u/s 14A could not be made where there was absence of finding of AO that he was not satisfied about correctness of assessee's claim regarding expenditure in relation to income which was not forming part of total income.

2) ITO Vs. Daga Capital Management P Ltd (2008) 26 SOT 603 (Mum) (SB).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok