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2017 (1) TMI 1057 - AT - Income TaxDisallowance u/s. 14A - Held that:- The Co-ordinate Bench of the Tribunal in the case of holding company of M/s. Hari Infrastructure (P) Ltd. has already decided the issue with respect to disallowance u/s. 14A has accepted the contentions of the assessee in respect of disallowance u/s. 14A on both the grounds. Thus, in view of the facts of the case, the order of Coordinate Bench and the CBDT Circular, we direct the Assessing Officer to delete the disallowance made u/s. 14A of the Act Deemed dividend addition u/s 2(22) - Held that:- The Commissioner of Income Tax (Appeals) has exceeded his jurisdiction in making addition u/s. 2(22)(e) of the Act as there is no reference of such income either in the return of income or in the assessment proceedings. Thus, the addition made u/s. 2(22)(e) by Commissioner of Income Tax (Appeals) is not sustainable and is therefore set aside being void ab-initio.
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