TMI Blog2014 (2) TMI 1149X X X X Extracts X X X X X X X X Extracts X X X X ..... nds applied by the assessee as well, albeit in part - authorised representative, though factually not incorrect while stating before us that the matter stands remitted by the Tribunal back to the file of the Assessing Officer for that year, has in fact, we are afraid to say, mis-represented the facts, inasmuch as the said restoration was only for the limited purpose of working the correct amount of disallowance under rule 8D, observing a difference in the said working (refer paragraph 6.3 of its order). No such conflict or uncertainty inflicts the amount per rule 8D(2)(iii) for the current year, its working at the impugned amount of ₹ 1,29,783 having been furnished by the assessee itself. - Disallowance confirmed - Decided against ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 83 under section 14A read with rule 8D. Placing a copy of the working in respect of section 14A disallowance, as furnished before the Assessing Officer, on record, he stated that the assessee suo motu disallowed ₹ 47,269 by way of interest under rule 8D(2)(ii). However, as no other indirect expenditure toward tax-exempt dividend income (at ₹ 17.39 lakhs) was incurred, the disallowance was restricted thereto. The Assessing Officer, rather than stating his reasons for being not in agreement with the assessee, applied rule 8D and, accordingly, disallowed a further sum of ₹ 1,29,783 under rule 8D(2)(iii), and which stood confirmed by the learned Commissioner of Income-tax (Appeals), again without stating reasons for the same. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer. We decide accordingly. 3.2. As regards the disallowance under section 14A, the initial onus, even as explained by the Tribunal in the assessee's case for the assessment year 2008-09 (refer paragraphs 6.1 and 6.2), is on the assessee, and which has to be discharged with reference to its books of account. Merely denying incurring any expenditure which, it must be appreciated, would be embedded in the various accounts heads whereunder the general administrative expenditure incurred by any business organisation, viz. rent, telephone, office expenditure (including depreciation on office building ; repairs and maintenance thereof), electricity, etc. is debited. The legal aspect qua section 14A(2) stands discussed in detail by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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