SHRIRAM DADAJI MATTE,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, NAGPUR
In the result, appeal filed by the assessee for the assessment year
ITA 180/NAG/2022[2015-16]Status: DisposedITAT Nagpur24 Jun 2024AY 2015-16
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri R.K. GaneriwalFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 14A
3) of the Act. The Assessing Officer concluded assessment by making a disallowance under section 14A of the Income Tax Act, 1961 ("the Act") for business investment made by the assessee on purchase of shares for `
22,50,000, on prorate basis of interest paid of ` 42,51,412, liability on loans.
The Assessing Officer while relying upon the judgment
