DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. TATA STEEL PROCESSING & DISTRIBUTION LIMITED, KOLKATA

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 14A (1) and 14A(2) read with rule 8D. Reliance in this regard is placed on the decision of Hon'ble Kolkata Tribunal in the Company's own case for Y 2002-03 [kindly refer pages 127-133 of the paper book]. In this case, the AO had disallowed proportionate interest expenditure. The company contended that although

TATA STEEL PROCESSING AND DISTRIBUTION LTD.,KOLKATA vs. DCIT, CIRCLE - 8, KOLKATA, KOLKATA

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous