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2016 (5) TMI 1615 - AT - Income TaxDisallowance u/s 14A - in the quantum appeal, the Tribunal has deleted the said disallowance which was made by the AO over and above what the assessee has offered the disallowance u/s14A - HELD THAT:- In view of the aforesaid facts that in the quantum proceedings the Tribunal vide order [2014 (1) TMI 709 - ITAT MUMBAI] has deleted the disallowance made by the AO u/s 14A over and above what was suo moto disallowed by the assessee in its return of income, the penalty levied on such disallowance have no legs to stand. CIT(A) has deleted the penalty after following Tribunal order in the quantum proceedings. Accordingly, ground raised by the revenue is dismissed.
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