Dismissing the petition the Court held, that it had been articulated in the reasons recorded for issuing the notice under section\u00a0148\u00a0that disallowance under section 14A of the Act should be made as per the methodology prescribed in rule\u00a08D\u00a0of the\u00a0Income-tax Rules, 1962, and that section\u00a014A\u00a0read with rule\u00a08D\u00a0was not adhered to by the assessee in computation of income. Therefore, this matter turned on the facts. The assessee bank itself made a disallowance to the tune of over 69.23 lakhs under section\u00a014A\u00a0and in that context there was a reference to section\u00a014A\u00a0read with rule\u00a08D. It was also made clear that disallowance of interest or expenditure ought to have been computed at a particular quantum whereas the assessee bank had disallowed an amount of only Rs. 69.23 lakhs and odd. Whether these needed to be disallowed was the point raised. All this turned heavily on the facts. In other words, these were all questions of fact. Hence a writ would not issue to quash the notice. (AY.\u00a0 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-After the expiry of four years-Failure to disclose material facts-Exempt income-Interest payment-Question of fact-writ is not maintainable. [S. 148, R. 8D, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-28518","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7pY","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28518"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28518\/revisions"}],"predecessor-version":[{"id":29087,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28518\/revisions\/29087"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}