A.O.allows deduction of proportionate cost, administrative and other expenses, if A.O. proposes to assess interest income earned from bank deposits.
Quick Summary
Court :
ITAT Bangalore
Brief :
Both the appeals filed by the assessee are directed against the common order dated 12.06.2019 passed by Ld CIT(A), Mangaluru and they relate to the assessment year 2015-16 and 2016-17. Sincecertain common issues are urged in these two appeals, both the appeals were heard together and are being disposed of by this common order, for the sake of convenience.
Citation :
ITA 1289/BANG/2019
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Published in Income Tax
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