2012 (8) TMI 998

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..... Revenue is directed against the order of learned CIT(A)-XVIII, New Delhi dated 20th April, 2011 for the AY 2008- 09. 2. Nobody appeared on behalf of the assessee at the time of hearing fixed on 7.9.2011, 24.11.2011 & 12.4.2012 and the department was asked to serve the notice and produce the evidence. The Department, vide its letter dated 6th June, 2012, has intimated that the notice has duly bee .....

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..... used the material placed before us. The facts of the case are that the Assessing Officer disallowed the sum of ₹ 1,62,73,596/- under Section 14A. The learned CIT(A) allowed the relief of ₹ 14,43,248/- with the following finding:- "5.2 Considering the above, the impugned addition made by the AO by applying rule 8D read with section 14A of the Act in respect of interest amount of ₹ .....

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..... e arguments of the learned DR and the facts of the case, we do not find any infirmity in the order of learned CIT(A). The learned CIT(A) has recorded the finding that the total administrative expenses claimed by the assessee were only ₹ 2,76,352/-. The disallowance of expenditure cannot exceed the expenditure incurred and claimed by the assessee. Since the deduction for the expenditure claim .....

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