KB CAPITAL MARKETS (P) LTD.,KOLKATA vs. D.C.I,.T CIR - 6 , KOLKATA., KOLKATA

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

Section 14A read with Rule 8D for this assessment year. The disallowance is very reasonable looking into the scale of transactions involving exempted income of dividends and long term capital gain. The Assessing Officer will verify the figures from the assessment record and disallow the amount accordingly. In case of any variation, from the figures as mentioned above, he will