9911796707
TMI Blog2025 (1) TMI 1278X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. The Registry has informed that the appeal filed by the assessee is barred by limitation of time by 860 days. An affidavit has been filed by the assessee for condoning the delay stating as follows: "I. Sandeep Jhaveri. director of the applicant, do solemnly affirm on oath that whatever is stated in the below paras is true to the best of my information and that I have not suppressed any material fact. 1. The aforesaid appeal was originally tiled within the period of limitation before the Hon'ble Pune 1TAT against the order of the CIT(A). Pune. However, the Pune ITAT dismissed the appeal owing to the fact that since the assessment order is passed by the jurisdictional AO, DCIT, Circle-7, Kolkata, the present appeal is not maintainab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re regarding the disallowance u/s 14A of the Act of Rs. 86,224/-. The ld. AR for the assessee informed that the exempt income was Rs. 1,50,000/- and the Ld. CIT(A) erred in confirming the disallowance. His attention was drawn to the fact that Ld. AO had applied Rule 8D of the Income Tax Rules, 1962 and no suo moto disallowance was made by the assessee, therefore there was no question of allowing any further relief from what had been upheld by the Ld. CIT(A). Subsequently, the ld. DR did not press these grounds of appeal. Hence, both these grounds of appeal are dismissed. 2.2. Ground no. 3 is related to disallowance of Rs. 4,81,477/- by the Ld. AO being sales promotion expenses. The findings of Ld. CIT(A) are as under: "3.2 I have conside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led. The ld. AR drew our attention to page 11 of the paper book filed which is a balance sheet as at 31.03.2010 and at page 14 there is a schedule of fixed assets which shows additions to Plant & Machinery, Furniture and Fixture etc. while in the opening balance, only office building at Kolkata was being shown. It was stated that earlier the assessee was carrying on the investment business and during the year under consideration the new unit was acquired, which is also evident from the details of addition to fixed assets and plant & machinery in the balance sheet and the assessee thereafter carried on the business of paper cores and fibres in the unit acquired at Aurangabad. No sales were made in the earlier year and only income from commis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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