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TMI Blog2019 (5) TMI 314X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessee : Shri G.V.N.Hari, AR For the Revenue : Shri D.K.Sonowal, CIT DR ORDER PER BENCH : These appeals are filed by the revenue against the order of the Commissioner of Income Tax (Appeals) [CIT(A)]-3 dated 29.06.2018 and Cross Objections are filed by the assessee in support of the order of the Ld.CIT(A) for the Assessment Year (A.Y.) 2011-12 to 2015-16. Since the issues involved in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /2018, A.Ys 2013-14 to 2015-16 3. The only issue in these appeals is related to the disallowance made by the Assessing Officer (AO) u/s 14A r.w.Rule 8D of I.T.Rules. The assessee is engaged in the business of developing of infrastructure facilities and during the assessment proceedings, the AO found that the assessee has made the investments in M/s Panduranga Energy Systems Pvt. Limited out of bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rties and perused the material placed on record. In this case, the AO made the disallowances relating to the to exempt incomeu/s 14A r.w. rle 8D of Income tax Rules. However, it was found that the assessee did not earn exempt income in the impugned assessment years. Therefore, the Ld.CIT(A) followed the orders of this Tribunal and deleted the addition. For the sake of clarity and convenience we ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 39;ble Madras High Court in the case of M/s Redington (India) Ltd. Vs. The Addl, CIT, Company Range-V, Chennai in T.C.A.No. 520 of 216 and CIT, Central-1, Chennal Vs Chettinad Logistics (P) Ltd.[2017] 80 taxmann. Com 221 (Madras) and Hon'ble ITAT (Vizag) in the case of D.Veerabhadhra Reddy(HUF) Vs the DCIT, Circle-1, Kakinada and DCIT, Circle-2(1), Vijayawada Vs. Radhakrishna Automobiles. Resp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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