If the Assessee file return within the time prescribed under sec 139(1) than setting off loss in the revised return under sec 139(5) cannot be allowed


Last updated: 17 March 2012

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
We have heard the ld AR of the assessee as well as the ld DR and considered the relevant material on record. The Assessing Officer has disallowed a sum of Rs.1,61,390/- u/s 14A by applying Rule 8D of I T Rules. The CIT(A) has confirmed the disallowance made by the Assessing Officer.

Citation :
Glazers Exports (I) P Ltd 103 Delux Courtm Roabahadur V B Road(off) Turner Road)Bandra (W)Mumbai (Appellant) Vs The Income Tax OfficerWard 1(1)(4), Mumbai (Respondent)

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CS Bijoy
Published in Income Tax
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