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2015 (10) TMI 2517 - ITAT AHMEDABAD

2015 (10) TMI 2517 - ITAT AHMEDABAD - TMI - Disallowance u/s 14A - Held that:- If there is no exempt income claimed by the assessee, then there is no disallowance ought to be made u/s 14A of the Income-tax Act. See CIT vs. Corrtech Energy P. Ltd [2014 (3) TMI 856 - GUJARAT HIGH COURT ] - Decided in favour of assessee. - ITA No. 623/Ahd/2012 - Dated:- 30-10-2015 - SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER JJ Shri Tushar Hemani, AR for the Appellant. Shri D.C. Mis .....

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.2011. This order was received by the assessee on 12.12.2011. The papers were handed over to the Accountant of the assessee for appointing the Counsel in Ahmedabad and handing over the papers. The appeal ought to have been filed on or before 20.02.2012, but the appeal was filed before the Tribunal on 17.03.2012. The Accountant has inadvertently misplaced the papers and failed to bring this fact to the notice of the assessee. Due to this reason, the appeal could not be filed well in time. On the .....

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rred at the end of the Accountant is a plausible human error and there is no malafide in such explanation. Therefore, we condone the delay in filing the appeal and proceed to decide the appeal on merit. 5. The solitary grievance of the assessee is that the learned CIT(A) has confirmed the disallowance of expenses at ₹ 6,69,258/- which was disallowed by invoking provisions of Section 14A read with Rule 8D of the Income-tax Rules by the Assessing Officer. On the strength of the Hon ble Gujar .....

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hedule O is available at page No.28 of the paper-book. By taking through this Schedule, he contended that there is no dividend income which is claimed as exempt income by the assessee during the year. The learned Departmental Representative, on the other hand, relied upon the orders of the Revenue Authorities below. 6. We have duly considered the rival contentions and gone through the record carefully. The Hon ble Gujarat High Court has considered this issue in the case of CIT vs. Corrtech Energ .....

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