2025 (9) TMI 274

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.... PER VIKAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-29, New Delhi (hereinafter referred to as 'the CIT(A)') dated 14.03.2024, for assessment year 2013-14. 2. The solitary addition made by the Assessing Officer (AO) in impugned assessment year is with regard to disallowance u/s.14A of the Income Tax Act, 1961(here....

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....d bag of own interest free funds and interest bearing funds, it is presumed that the investments are made by the assessee from own noninterest bearing funds. Hence, no disallowance under Rule 8D(2)(ii) is warranted. As regards disallowance under Rule 8D(2)(iii), the assessee has made suo moto disallowance of 0.5% of average investments. It is also a settled position that for the purpose of computi....