2010 (10) TMI 1212

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..... Garodia, AM: This is an assessee's appeal filed against the order of Ld CIT(A)-XI, New Delhi dated 13.3.2009 for assessment year 2006-07. 2. The only ground raised by the assessee reads as under:- "That the Ld CIT(A) has erred in confirming the addition made by the Ld Assessing Officer of ₹ 2,50,538/- u/s 14A of the Income Tax Act, 1961 against the dividend income of ₹ 8,36,29 .....

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..... reed to this proposition. Ld DR of the revenue although supported the orders of authorities below but no serious objection was raised against the proposition put forward by the Bench. 5. We have heard the rival submissions and have gone through the material available on record. The only grievance of the assessee is regarding disallowance made by the Assessing Officer of ₹ 2,50,538/- u/s 14 .....

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..... ends of justice if the disallowance is made to the extent of 10% of dividend income because considering the smallness of amount in dispute, we do not feel it fruitful to restore the matter back to the file of the Assessing Officer for a fresh decision as we are doing in other cases where the stakes are high. We, therefore, direct the Assessing Officer to restrict the disallowance to 10% of dividen .....

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