2013 (12) TMI 770

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..... No.1 to 3 & 8 are dismissed as not pressed. 3. Ground No.4 relates to disallowance under Section 14A read with Rule 8D. 3.1 The facts in succinct are that during the course of the assessment proceedings, the AO noticed that the assessee has received dividend income of Rs.10,235/- and claimed the same as exempt under Section 10(34) of the Act. The AO invoked the provisions of Section 14A read with Rule 8D and computed the total disallowance at Rs.5,07,520/-, which was confirmed by the CIT(A) in appeal. 3.2 Before us, the counsel for the assessee submitted that the Rule 8D is not applicable for the assessment year under consideration. 3.3 Per Contra, the learned DR relied upon the findings of the lower authorities. 3.4 It is now well set .....

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..... on of the Hon'ble Supreme Court in the case of Smifs Securities Ltd. (supra). Ground No.5 is allowed. 5. Ground No.6 relates to claim of repairs and maintenance expenditure at Rs.11,04,331/-. 5.1 This issue has been discussed by the AO in para 9 at page 8 of his order. The AO observed that the assessee has debited Rs.11,04,331/- on account of Scope Minar Expenses. The assessee was asked to file necessary details for the claim of these expenses. The assessee filed a detailed reply in response to the said query of the AO. After considering the submissions made by the assessee, the AO observed that the assessee could not occupy the premises on which the said repairs and maintenance expenses were incurred as the administration of the Scope Mi .....

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..... head ' repairs and maintenance' by supporting documentary evidences. Thus, ground No.6 is allowed for statistical purposes. 6. Ground No.7 relates to claim of website development expenses. 6.1 The assessee claimed these expenses by a letter dated 22-12- 2009, which has not been considered by the AO. Before the CIT(A), the assessee reiterated its claim. The CIT(A) declined to entertain the claim of the assessee by holding that the assessee should have claimed these expenses by filing a valid revised return under Section 139(5) of the Act. 6.2 Before us, learned counsel of the assessee submitted that the expenses incurred for website development are directly related to the business of the assessee and, therefore, the same deserve to be all .....

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