2018 (6) TMI 1742

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... S. Sriniranjani, Advocate For the Respondent : Shri B. Sagadevan, JCIT ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER: This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals) -8, Chennai, dated 23.08.2017 and pertains to assessment year 2008-09. 2. Ms. S. Sriniranjani, the Ld.counsel for the assessee, submitted that the original assessment ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....his case, according to the Ld. counsel, the dispute is with regard to computation of expenditure for earning the exempted income. The Assessing Officer found that the disallowance under Section 14A of the Act was computed under clause (iii) of Rule 8D(2) of the Income-tax Rules, 1962 instead of clause (ii). According to the Ld. counsel, the assessee has furnished all the exempted income and also t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he relevant material available on record. The issue arose before the Assessing Officer was disallowance under 14A of the Act in respect of exempted income earned by the assessee. The Assessing Officer admittedly computed the disallowance under clause (iii) of Rule 8D(2) of Income-tax Rules, 1962. Now the Assessing Officer claims that the disallowance ought to have been made under clause (ii) of Ru....