Addition as per clause(iii) of sub-rule(2) of Rule 8D of the Income Tax Rules

Last updated: 11 August 2021
Quick Summary
The Income Tax Appellate Tribunal has ruled on an appeal concerning disallowances made under Section 14A of the Income Tax Act, specifically relating to clause (iii) of sub-rule (2) of Rule 8D. The tribunal found that disallowances made on an ad-hoc basis and solely due to tax arbitrage were not justified. Consequently, the Assessing Officer was directed to delete a disallowance of Rs. 1,94,350/-, allowing the appeal partly.

Court :
ITAT Delhi

Brief :
This appeal is filed by the assessee against the order of the ld. Commissioner of Income Tax (Appeals)-33, New Delhi, dated 11.04.2017 for assessment year 2012-13.

Citation :
I.T.A. No. 4090/Del/2017

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