TMI Blog2018 (2) TMI 1899X X X X Extracts X X X X X X X X Extracts X X X X ..... e has nowhere been discussed either in CIT(A) s order in question or before the tribunal. CIT(A) s above extracted findings also nowhere specifically deal with the instant administrative expenditure issue. There can hardly be any dispute that such an administrative expenditure has to be disallowed post assessment year 2008-09. We therefore accept learned Departmental Representative s corresponding submission regarding this administrative expenditure issue aspect. The impugned disallowance is therefore revived to the extent of ₹ 7,21,908/- only. The Revenue s former substantive ground is therefore partly accepted in above terms. Impugned Section 14A r.w. Rule 8D disallowance is to be added in MAT computation - Issue is not more ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 94,40,092/- in question. He further include the same for assessee s MAT working as well. 3. The CIT(A) reverses Assessing Officer s action as under: 5.2 I have carefully considered the facts of the case, contentions of the appellant as well as the case laws relied upon by the appellant and the order of A.O. The A.O. has made an addition of ₹ 94,40,092/- on account of disallowance u/s.14A r.w. rule 8D of the I.T. Rules. The appellant has received dividend of an amount of ₹ 30,04,274/-. The appellant is claiming that it has not incurred any expenditure in order to earn the said exempt income. During the appellate proceedings the appellant has also submitted that the dividend which was received was credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... td(supra) and various other judgments of jurisdictional High Court. Considering the availability of non-interest bearing funds in the hands of the appellant for making investments and earning exempt income, I am of the considered opinion that no disallowance under sub-section 14A is warranted in this case. Accordingly, the A.O is directed to delete the disallowance of ₹ 94,40,092/- made u/s.14A of the Act. Thus, this ground of appeal is allowed. 4. Heard both the learned representatives reiterating their respective stands. Case file perused. Mr. Shah at the outset refers to tribunal s order in assessee s cases itself in assessment years 2007-08 and 2008-09 dated 22.06.2016 reversing a similar Section 14A disallowa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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