2015 (1) TMI 1297

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....AN, Accountant Member: The appeal filed by the assessee is directed against the order dated 20.12.2011 passed by the ld. CIT(A)-5, Mumbai and it relates to the assessment year 2008-09. 2. The appeal filed by the assessee is barred by limitation by 81 days. The assessee has moved a petition requesting the Bench to condone the delay. We have also heard the ld. DR on this preliminary issue. Hav....

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....nce on the above said amount u/s 14A. However, computation made by the assessee was not in accordance with Rule 8D of the Income Tax Rules, 1962. Accordingly, the AO computed the disallowance as per provisions of Rule 8D at Rs. 8,53,822/-. The ld. CIT(A) also confirmed the said disallowance. Aggrieved, the assessee filed the appeal before us.. 5. At the time of hearing, the ld. counsel invited ....

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..../s 14A was not required to be made if the preliminary objective of investment was holding controlling stake in group concern and not for earning dividend from investment. a) M/s JM Financial Limited V/s ADCIT in ITA No.4521/Mum/2012 (AY-2009-10) order dated 26.3.2014; b) Garware Wall Ropes Ltd V/s Addl. CIT (2014) 65 SOT 86 6. The ld. DR, on the contrary, placed reliance on the decision o....