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2016 (9) TMI 698 - AT - Income TaxDisallowance made u/s. 14A - Held that:- It can be noticed that own funds available with the assessee in each of the three years is more than investment made and hence disallowance u/r. 8D(2)(ii) of the I.T. Rules is not called for in view of the decision rendered by Hon'ble Bombay High Court in the case of HDFC Bank Ltd. (2014 (8) TMI 119 - BOMBAY HIGH COURT ). Accordingly, we set aside the order of learned CIT(A) passed on this issue and direct the Assessing Officer to delete the disallowance made u/r. 8D(2)(ii) of the I.T. Rules. Assessment of Service charges received from the tenants - Income from other sources or Income from house property - Held that:- In the instant case, the impugned property was let and the termination notice was given in July 2008 and it was stated that the tenant has vacated the property in that month itself. The Ld A.R also made a statement at bar that the assessee has offered the rent pertaining to the period from April, 2008 to July 2008. It is not the case of the AO that the assessee has let out this property during this year itself, after it was vacated by M/s Athma Productions P Ltd. The assessee has stated that the property was only let out in June 2009 and the same has not been proved to be wrong. In view of the above, we are unable to agree with the view expressed by Ld CIT(A) on this issue. Accordingly we set aside the order passed by Ld CIT(A) on this issue and direct the AO to delete the assessment made on notional basis.
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