Disallowance made u/r 8D(iii) of Income Tax Rules without giving Weightage to Credit Balance of Investment : ITAT Directs Re-adjudication [Read Order]

By Shabna Rahim - On June 14, 2023 8:30 am - 2 mins read

Disallowance - Income Tax - Income Tax Rules - Credit Balance - Investment - weightage - ITAT - re-adjudication - income - tax - taxscan

The Pune bench of the Income Tax Appellate Tribunal ( ITAT) directed re-adjudication for the disallowance made under rule 8D(iii) of the Income Tax Rules, 1962 without giving Weightage to the credit balance of Investments. Pride Purple Properties, the appellant assessee appealed against the order passed by the Commissioner of Income Tax (Appeals) for confirming the…

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