9911796707
TMI Blog2019 (7) TMI 1209X X X X Extracts X X X X X X X X Extracts X X X X ..... njaria ORDER PER M. BALAGANESH (A.M): By virtue of this miscellaneous application, the assessee seeks to recall the order passed by this Tribunal in ITA No.5983/Mum/2013 for A.Y.2010-11 dated 21/12/2018. 2. The issue in dispute in the main appeal is with regard to disallowance made u/s.14A of the Act. The assessee had derived the exempt income in the form of dividend in the sum of Rs. 1,99,644 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rules in the sum of Rs. 1,31,316/- vide its order dated 21.12.2018 by observing as under:- "3. We have heard the rival submissions. The Ld. AR pleaded that entire investments were made only out of own funds of the assessee in the form of share capital and free reserves which was several times more than the investments made by the assessee. Accordingly there cannot be any disallowance u/s 14A of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... out that the said dividend income is exempt from income tax in the hands of the recipients. Hence the applicability of provision of section 14A of the Act automatically comes into operation. In view of this, we dismiss the argument advanced by the Ld. AR that no disallowance u/s 14A of the Act is warranted. We find that the Ld. AO had rightly invoked the third limb of Rule 8D(2) of IT Rules and d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e been heavily relied upon by the ld. AR before us. We find that the assessee has been preferring this miscellaneous application for the second time on the very same issue without any substance and also trying to misuse the provisions of the Act by resorting to review of the order passed by this Tribunal in the guise of rectification. In our considered opinion, there is no mistake apparent on reco ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
