What did the Tribunal hold?

The Tribunal found no reason to interfere with the lower authority's order, confirming the application of Rule 8D. The appeals were disposed of based on their specific nature.

The Assessing Officer applied Rule 8D due to the assessee not providing details regarding the shareholding pattern of companies where investments were made. The Tribunal reviewed the order of the lower authority.

What were the issues?

The primary issue was the validity of applying Rule 8D in the absence of specific shareholding details provided by the assessee.

Carborundum Universal Ltd… vs DCIT | ITAT Chennai 2016

Heard together (4 matters)

I.T.A. No.1525/Mds/14

ITA.No.1742/Mds/2014

ITA.No.1739/Mds/2014

ITA.No.1738/Mds/2014

Read from the judgment's own cause title. This page is filed under one of them.

provided any details with regard to shareholding pattern of the companies in which the investments were made. In the absence of any such details, the Assessing Officer has no other option but to apply Rule 8D. Therefore, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed.

56.

In the result, the assessee’s appeal in is dismissed.

57.

To summarise the result, Revenue’s appeal in ITA.No.1741 & 1525/Mds/2014 are dismissed ITA.No.1742/Mds/2014 is partly allowed Assessee’s appeal in ITA.No.1739/Mds/2014 is allowed, ITA.No.1738/Mds/2014 is partly allowed for statistical purposes. ITA.Nos.1736, 1737 & 1740/Mds/2014 are dismissed. Order pronounced on 19th May, 2016 at Chennai. sd/- sd/- (ए. मोहन अलंकामणी) (एन.आर.एस. गणेशन) (A. Mohan Alankamony) (N.R.S. Ganesan) लेखा सद�य/Accountant Member �या�यक सद�य/Judicial Member चे�नई/Chennai, �दनांक/Dated, the 19th May, 2016. Kri.

CARBORUNDUM UNIVERSAL LTD.,CHENNAI vs. DCIT, CHENNAI

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