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TMI Blog2019 (3) TMI 691X X X X Extracts X X X X X X X X Extracts X X X X ..... order dated 19.10.2015 under section 143(3) of the Income Tax Act, 1961 (hereinafter 'the Act'). 2. The only issue in this appeal of assessee is against the order of CIT(A) confirming the action of the AO in disallowing expenses relatable to exempt income under section 14A of the Act, read with Rule 8D(2)(iii) of the Income Tax Rules, 1962 (hereinafter the 'rules') at Rs. 7,01,959/- as against suo moto disallowance by the assessee at Rs. 33,315/-. For this assessee has raised the following ground: - "The CIT(A) erred in confirming the disallowance of Rs. 7,01,959/- under section 14A of the Income- tax Act 1961 ('the Act') read with Rule 8D (2) of the income - tax Rules, 1962 ('the Rules as against Rs. 33,315/- disallowed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowed the following expenses in its computation of income for the FY 2012-13 relevant to AY 2013-14 i.e. the year under dispute: - Other expenses Amount Auditor's remuneration (including service tax): 18,102.00 Bank charges & Commission 9,951.64 Business support fees 674,160.00 Interest on late payment of TDS &ST 841.00 Filing fees 501.00 Profession tax 2,500.00 Professional fees 1,70,940.00 Legal fees 1,000.00 Stamping charges 110.00 Printing and stationary 625.00 Miscellaneous expenses 84.00 Foreign exchange difference gain/ loss 84,188.00 Sundry Balance written off 26,952.00 Share of loss from partnership firm 154,009.98 Total 11,43,965.41 Other expenses Amount Foreign exchange difference gain/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before us, the only grievance of the assessee is that the CIT(A) has wrongly upheld the disallowance of administrative expenses made by the AO on investment in shares holding that the entire administrative expenses was incurred by the assessee for the purpose of investment in shares. The ground in present case is identical to the ground in the case of Cape Trading Pvt. Ltd. vs. ACIT, Mumbai (supra) and the other appeals discussed in the foregoing paras. The co-ordinate Benches of ITAT Mumbai have already decided the identical issue in favour of the assessee. Following the decisions of coordinate Benches, we decide the sole ground of appeal in favour of the assessee and delete the disallowance made by the Assessing Officer." 6. When these ..... X X X X Extracts X X X X X X X X Extracts X X X X
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