TMI Blog2017 (2) TMI 215X X X X Extracts X X X X X X X X Extracts X X X X ..... ide the finding of the CIT(A) on this issue and restore the file to the Assessing Officer to verify the claim of the assessee in view of the above said documents by giving an opportunity of being heard to the assessee in accordance with law. Accordingly, this issue is decided in favour of the assessee against the revenue. Disallowance of advertisement expenses, legal and professional fees and miscellaneous expenses - Held that:- The assessee has produced the details of the expenditure before the CIT(A) in view of the certificate dated 04.10.2016. Accordingly, the advertisement expenses has been shown at page 7 and 15 of the paper book which nowhere discussed in the said order. The expenses are in connection with the audit fees, advertise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f income appears to be reasonable in terms of section 14A of the Act. Accordingly, we set aside the order passed by the learned CIT(A) on this issue and direct the Assessing Officer to restrict the addition u/s.14A of the Act of ₹ 60,000/- made by the assessee. The same amount is required to be added to the book profit computed u/s.115JB of the Act, since the decision rendered by Hon’ble Delhi Bench of Tribunal in the case of Goetze (India) Ltd. Vs. CIT [2009 (5) TMI 615 - ITAT DELHI ] has been reversed by the Hon’ble Delhi High Court, the same case reported in [2013 (12) TMI 607 - DELHI HIGH COURT ]. - I.T.A. No.708/Mum/2016 - - - Dated:- 1-2-2017 - SHRI B.R.BASKARAN, AM AND SHRI AMARJIT SINGH, JM For The Assessee : Shri Sun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Amount (In Rs.) 1. Advertisement expenses 18,900 2. Legal and Professional fees 1,33,043 3. Miscellaneous expenses 12,237 Total 1,64,180 Under the facts and circumstances of the matter, the Ld. CIT(A) ought to have deleted the said disallowance of ₹ 1,64,180/- 3. On facts and in law, the Ld. CIT(A) had erred in confirming the disallowance of ₹ 1,64,180/- u/s.14A even knowing the fact that the said sum had already been disallowed by him under Grounds of Appeal No.2 of his order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come on 14.10.2010 declaring total income to the tune of ₹ 19,35,012/-. The return was processed u/s.143(1) of the Income Tax Act, 1961( in short the Act ) on 21.05.2011. The case was selected for scrutiny and accordingly, notice u/s.143(2) of the Act was issued on 27.09.2011 and served upon the assessee on 28.09.2011. Subsequently, notice u/s.142(1) of the Act was issued on 09.07.2011 and 17.07.2011. The assessee is having the income from investment in the shares and securities and rental income from immovable properties. The assessee has shown the income from the house property which was taken into consideration of Assessing Officer without reducing the service tax. The Assessing Officer has disallowed the expenditure to the tune o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. Under this issue the assessee has challenged the disallowance of advertisement expenses, legal and professional fees and miscellaneous expenses total to the tune of ₹ 1,64,180/-. The assessee has produced the details of the expenditure before the CIT(A) in view of the certificate dated 04.10.2016. Accordingly, the advertisement expenses has been shown at page 7 and 15 of the paper book which nowhere discussed in the said order. The expenses are in connection with the audit fees, advertisement fees and miscellaneous fees paid for the filing of appeal before the ITAT. The claim of the assessee nowhere examined and discussed by the CIT(A) in his order. No doubt the expenses has been incurred to maintain the establishment, therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee is aggrieved by the decision of the learned CIT(A). 7. We have heard the parties and perused the record. A perusal of Balance sheet furnished by the assessee would show that the assessee has held shares in a company named Money Matter Advisory Ltd and units in two schemes of LIC Mutual Fund as its opening balance of investment. During the year under consideration the assessee has purchased shares of Pipavav Shipyard Ltd. and sold part of units held in LIC Mutual Fund. As stated earlier the assessee had received dividend income of ₹ 7,74,483/- during the year. Except these transactions, the assessee has not done anything in respect of investments held by it. Under the set of facts we are of the view that the disallowan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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