MEGHALAYA CO-OP. APEX BANK LIMITED,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-SHILLONG, SHILLONG
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 43/GTY/2019[2011-12]Status: HeardITAT Guwahati09 Aug 2022AY 2011-12
Bench: Shri Manish Borad & Shri Sonjoy Sarmaassessment Year: 2011-12 Meghalaya Co-Op. Apex Assistant Commissioner Of Bank Ltd. Income-Tax, Circle - Shillong Vs. M. G. Road, Shillong- 793001 (Pan: Aaam8227G) (Appellant) (Respondent)
For Appellant: Shri Parthasarathi Choudhury, FCAFor Respondent: Shri N. T. Sherpa, JCIT
Section 143(3)Section 14ASection 154Section 246ASection 250
Section 14A as prevalent during the assessment year 2011-12. The Learned A.O. erred in law by effecting a wrong method of calculation of disallowance u/s 14A other than the stipulated method under Rule 8D of the I.T. Rules. Instead of considering only that part of investment, income from which is exempt from tax, he went on to apply
