DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

14A(1) was inserted by the Finance Act 2001 w.e.f 1.4.1962. Further Rule 8D was introduced with effect from AY 2008-09. In our view, section in existence in the year under consideration. Therefore, AO is justified making disallowance but the charge of 20% of the exempt income is too high, considering the fact that the assessee had invested

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed