2019 (8) TMI 1545

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..... id appeal by revenue for Assessment Year [in short referred to as 'AY'] 2014-15 contest the order of Ld. Commissioner of IncomeTax (Appeals)-10 Mumbai, [in short referred to as 'CIT(A)'], Appeal No. CIT(A)-10, Mumbai/11101/2016-17 dated 23/03/2018 qua deletion of disallowance u/s 14A. 2. None has appeared for assessee and no valid adjournment application is on record. Left with no option, we proc .....

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..... in terms of Rule 8D. The said disallowance, as per Rule 8D, worked out to be Rs. 944.61 Lacs which comprised-off of interest disallowance u/r 8D(2)(ii) for Rs. 873.13 Lacs and expense disallowance u/r 8D(2)(iii) for Rs. 71.48 Lacs. 4. The learned first appellate authority observed that no exempt income was earned by the assessee during year under consideration and therefore, no disallowance u/s 1 .....

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