TMI Blog2014 (11) TMI 1149X X X X Extracts X X X X X X X X Extracts X X X X ..... s Reliance Utilities & Power ltd.[2009 (1) TMI 4 - BOMBAY HIGH COURT] in our considered opinion, this is not a fit case for considering interest expenses for the purpose of disallowance u/s. 14A r.w. Rule 8D of the Act. In so far as other expenses are concerned, we find force in the contention of the Ld. Counsel. In the computation of income, the assessee has suo moto disallowed stamp duty and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent by: Shri Vijaykumar O R D E R PER N.K. BILLAIYA, AM: This appeal by the assessee is directed against the order of the Ld. CIT(A)-12, Mumbai dt.6.11.2012 pertaining to A.Y.2009-10. 2. The sole grievance of the assessee is that the Ld. CIT(A) erred in confirming the disallowance of interest and other administrative expenditure u/s. 14A to the tune of ₹ 29,65 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning exempt income. The assessee filed a detailed reply and claimed that it has not incurred any expenditure for the purpose of earning exempt income. It was pointed out that the assessee has already disallowed ₹ 27 lakhs, therefore, no further disallowance is to be made. 3.2. The submission made by the assessee did not favour with the AO who proceeded to compute the disallowance u/s. 14A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stration charges have already been disallowed by the assessee while computing its taxable income, therefore these suo moto disallowances made by the assessee should be considered while computing the disallowance. 6. Per contra, the Ld. Departmental Representative supported the findings of the Revenue authorities. 7. We have carefully perused the orders of the authorities below and the releva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Considering all these facts in totality, we direct the AO to recompute the disallowance after taking into consideration the auditors remuneration at ₹ 1,70,760/-, legal and professional charges at ₹ 49,000/- and miscellaneous expenses professional tax at ₹ 4,760/-. We further direct the AO to restrict the disallowance to the total actual expenditure incurred and claimed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
