Principal Commissioner of Income-tax-2 v. Galaxy Real Estate Developers Pvt. Ltd
[Citation -2017-LL-0613-3]
| Citation | 2017-LL-0613-3 |
|---|---|
| Appellant Name | Principal Commissioner of Income-tax-2 |
| Respondent Name | Galaxy Real Estate Developers Pvt. Ltd. |
| Court | HIGH COURT OF GUJARAT AT AHMEDABAD |
| Relevant Act | Income-tax |
| Date of Order | 13/06/2017 |
| Judgment | View Judgment |
| Bot Summary: | Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 4.5.2016, raising following question for our consideration. Whether the Appellate Tribunal is right in law and on facts in deleting the disallowance under Section 14A of the Income Tax Act, 1961 read with Rule 8D by the Assessing Officer 2. The issue thus relates to disallowance under Section 14A of the Income Tax Act, 1961. The Tribunal in the impugned judgment noticed that the assessee had sufficient interest free funds in excess of investments made for earning tax free income. |