M/S. UNIVERSAL MEDICAP LTD.,VADODARA vs. THE ACIT, CIRCLE-2(1)(1), BARODA
In the result, appeal filed by the Assessee is partly allowed
ITA 155/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad07 May 2019AY 2012-13
Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)
For Appellant: Shri Nimit Mehta, ARFor Respondent: Shri Lalit P. Jain, Sr. D.R
Section 14Section 14ASection 234BSection 234CSection 271
section 14 A envisage that when such expenses related to exempt income cannot be quantified incurred on administrative such as salary, bank charges, office expenditure & ancillary expenses grouped under such administrative cost shall be quantified by way of formula laid down under Rule 8D of I. T. Rules 1962. Hence, the reply of the assessee is not acceptable in view
