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
penalty proceedings u/s 271(l)(c).
2. Facts of the case are emanated from the assessment order:
4.2 Disallowances u/s 14A r.w. Rule 8D:
During the year under consideration, the assessee has earned dividend of Rs.92,687/-. In the computation of income, the assessee has claimed it as exempt dividend income u/s.io(34) of the Act. However, it is seen
