2018 (3) TMI 1398

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....ter alia that :- "1) That order made u/s 250 of the Income Tax Act dated 29/12/2015 by the learned CIT (Appeals)-2 is erroneous in nature as he has confirmed the order of Ld. AO who made additions u/s 14A in the total income of the assessee company. 2) That the addition u/s 14A of the Act was made by making is allowance of Rs. 3,71,410/- which is quite unjustified and is bad in law. 3) That the learned CIT (A) has erred in law by affirming the is allowance made by AO amounting to Rs. 3,71,410/- over and above the disallowance already made by the assessee company under Section 14A of the Act, ignoring the basic fact that no expenses had been incurred for earning exempt income." 2. Briefly stated the facts necess....

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....he addition by dismissing the appeal. Feeling aggrieved, the assessee company has come up before the Tribunal by way of filing the present appeal. 4. We have heard the ld. Authorized Representatives of the parties to the appeal, gone through the documents relied upon and orders passed by the revenue authorities below in the light of the facts and circumstances of the case. 5. AO noticed from memorandum of association of the assessee company that its main object is real estate promoters, developers and project management association including civil, mechanical, electrical etc. and even in the tax audit report, the nature of business has been shown as builder and property developers, but no building construction activities have been rec....