9911796707
TMI Blog2014 (1) TMI 896X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER Per :Amit Shukla , JM This appeal has been preferred by the assessee against the order dated 13.12.2012 passed by CIT(Appeals)-20, Mumbai for quantum of assessment passed u/s 143(3) for the Assessment Year- 2006-07. Only issue involved is disallowance of Rs. 24,62,494/- made u/s 14A. 2. The Assessing Officer on the perusal of profit and loss account noted that assessee has earned dividen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness activity is as under: (Rs. in lacs) Sr. Particulars Amount Amount 1. Total Expenditure Less. Donation Salaries/Cont. to PF/Staff Welfare Loss on Sale of Assets General Administration Expenses (A) Ratio of A upon salary of Rs. 39.16 is 15.00 39.16 0.59 278.51 54.75 223.76 571% Therefore, general administration expenses allocable to dividend will be Rs. 87,363/-. Hence, tot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of disallowance u/s 14A and how Rule 8D cannot be applied for working of disallowance u/s 14A for the Assessment Year 2006-07. Ld. CIT(Appeals) however, rejected the assessee's contention and upheld the disallowances made by the Assessing Officer. On the ground that Rule 8D provides reasonable basis for disallowances and therefore, no interference is called for. 4. Before us, Learned Counsel sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owance u/s 14A. The Ld. CIT(Appeals) has confirmed disallowance even though he agreed that Rule 8D cannot be held to be applicable in the Assessment Year 2006-07 but he confirmed the disallowance on the ground that it is quite reasonable. The assessee has worked out the disallowance of Rs. 1,02,663/- as per working given before the Assessing Officer, which has been incorporated in the forgoing par ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
