While Applying Rule 8D in one of my cases, the Assessing Officer had calculated the interest portion to be disallowed by considering only the interest paid. He has not taken into consideration the interest recieved by the Client. I am of the view that disallowance if any has to be calculated on Nett Interest. If aby one has any judical ruling on this matter please provide it
1 Replies
CA. Roopali Kadam
(Jobs on assignment basis.)
(1459 Points)
Replied 11 June 2011
can i get more details so that i can give more relevant case law if possible. because to study rule 8D i have collected few case laws but i do not have hold on this topic. which is the exempt income. is interest paid attributable to any income or to interest received
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