9911796707
TMI Blog2025 (5) TMI 1560X X X X Extracts X X X X X X X X Extracts X X X X ..... Agal, Sr DR ORDER PER: DR. B.R.R. KUMAR, VICE PRESIDENT: This appeal has been filed by the assessee against the order passed by the Ld. Commissioner of Income-Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (hereinafter referred to as "CIT(A)" for short) dated 18.06.2024, passed u/s 250 of the Income-tax Act, 1961, (hereinafter referred to as "the Act" for short) for the Assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee. 4. Aggrieved by the order of the Ld. CIT(A), the assessee is now in appeal before the Tribunal. 5. We have heard both the parties and perused the material available on record. Disallowance u/s 14A:- 6. The assessee has earned dividend of Rs. 2,83,383/- against which the Assessing Officer made disallowance of Rs. 3,15,860/-. The assessee submitted that this dividend is out of investment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lakhs, we hold that no notional interest is chargeable nor disallowable. Appeal of the assessee on Ground No. 6 is hereby allowed. Addition u/s 23(4) of the Act 8. The Assessing Officer determined notional rent @ Rs. 1 lakh per month, amounting to Rs. 12 lakhs per annum. The Ld. CIT(A) earlier determined the same at Rs. 50,000/- per month which the Revenue has not disputed. Hence, keeping in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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