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2021 (11) TMI 1081 - ITAT KOLKATADisallowance u/s 14A r.w.r 8D - assessee earned exempt dividend income and offer suo-moto disallowance while computing the income - CIT(A) deleted the additional disallowance by observing that AO was duty bound to record his dissatisfaction about the computation of disallowance made by the assessee - HELD THAT:- We find that besides the observation of Ld. CIT(A) in the impugned order, the disallowance is not sustainable for two reasons. Firstly, the suo-moto disallowance as offered by the assessee was more than the exempt income. Secondly, as per settled legal position, only those investments were to be considered which had actually yielded any exempt income during the year. The suo-moto disallowance offered by the assessee was in accordance with law. Therefore, finding no reason to interfere in the impugned order on this issue, we dismiss the ground raised by the revenue. Disallowance u/s 43B (Employer’s contribution to Gratuity Fund) - Disallowance u/s. 43B(b) as per the observation of Tax Auditor that there was non-payment of Employer’s contribution to approved Gratuity Fund - CIT(A) deleted the same by observing that the same was already disallowed by the assessee in the computation of income and further disallowance would amount to double addition - we direct Ld. AO to verify the observation and delete the disallowance. This ground stand allowed for statistical purpose.
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