TMI Blog2018 (5) TMI 1926X X X X Extracts X X X X X X X X Extracts X X X X ..... se i.e. Plastiblends India Ltd. v. Additional CIT [ 2017 (10) TMI 423 - SUPREME COURT] . DR relies on the above decision. We have heard the rival submissions and perused the relevant materials on record. In the above decision, it has been held that quantum of deduction under section 80-IA is not dependent upon assessee claiming or not claiming depreciation, because under section 80-IA quantum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AO as per the applicable provisions of law. Appeal is dismissed. - ITA No. 4121/MUM/2016 - - - Dated:- 31-5-2018 - SHRI JOGINDER SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) For the Assessee : Mr. Nitesh Joshi, AR For the Revenue : Mr. T.A. Khan, DR ORDER PER N.K. PRADHAN, AM This is an appeal filed by the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re by way of administrative cost had been incurred in relation to earning of exempt income and, hence, no such additional expenditure could not be the subject matter of disallowance under section 14A of the Act. 3. The Ld. counsel of the assessee fairly agrees that the 1st ground of appeal has been decided against the assessee by the decision of the Hon ble Supreme Court in assessee s own ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... med the same as exempt u/s 10(34) in the computation of income. The assessee has offered ₹ 32,341/- as disallowance u/s 14A in respect of the exempt income. The Assessing Officer (AO) made a disallowance of ₹ 9,02,519/- under Rule 8D(2)(ii) and ₹ 1,92,535 under Rule 8D(2)(iii) of the Income Tax Rules, 1962. The AO thus made a disallowance of ₹ 10,62,713/- after giving credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctors at the highest level which requires lot of consultancy from various experts. Therefore, the disallowance u/s. 14A r.w. Rule 8D(2)(iii) becomes imperative, as the disallowance have been computed by the AO as per the applicable provisions of law. We do not find any reason to interfere with the disallowance. Facts being identical, we follow the above order of the Co-ordinate Bench and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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