2016 (2) TMI 919

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....(Judicial Member) This appeal is filed by the assessee against the order of the Ld. CIT(A)-41, Mumbai dated 10.10.2011 pertaining to assessment year 2008-09. 2. None appeared on behalf of the assessee inspite of notice by RPAD. Therefore we heard the Ld. Departmental Representative and dispose of this matter ex parte on merit. 3. The Ld. Departmental Representative submits that the AO whi....

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.... appearing in balance sheet. 5.1. The assessee before the Ld. CIT(A) submitted that the AO erred in applying Sec. 14A and making disallowance of interest and other expenses of Rs. 39,63,654/-. It was further contended that in any event, the AO is not justified in disallowing expenses to the tune of Rs. 39,63,654/- when the assessee has received dividend income of Rs. 21,57,188/- only. However, ....