2015 (12) TMI 1788

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.... raised in all these three appeals is common and it relates to disallowance of expenses u/s. 14A of the Act read with Rule 8D(2)(iii). For the sake of completeness, the ground relevant of the appeal in ITA No. 4088/Mum/13 is extracted as under. "The CIT(A) erred in upholding the disallowance of administrative expenses of Rs. 8,33,695/- out of Rs. 8,97,505/- made by AO on investment in shares claiming the entire administrative expenses was incurred by the assessee for the purpose of investment in shares." Considering the commonness of the issue and the common counsels before us for all these three appeals, we called all these three appeals and adjudicated the same in this composite order. 3. Before us, ld. Counsel for the assessee infor....

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....n such circumstances, the ratio laid down by the Tribunal in the case of Cape Trading Private Ltd. (supra) is applicable to the facts of these three appeals. 6. Ld. DR for the Revenue relied heavily on the order of the CIT(A) / AO. We perused them and examined closely the said decision of the Tribunal in the case of Cape Trading Private Ltd. and find the expenses mentioned in para 6 of the said order are more or same. We compared the heads of accounts of the expenses of the administrative and other expenses and in comparison we find majority of expenses claimed by the assessee are more or less on same accounts, i.e., auditors remuneration, depreciation, legal and professional fees, business support fees etc. For example, on perusing the sc....