2019 (3) TMI 998

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....ama Karthikeyan, Ld. DR ORDER PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year [AY] 2014-15 contest the order of Ld. Commissioner of Income Tax (Appeals)-12, Mumbai [CIT(A)], Appeal No. CIT(A)-12/ACIT-6(2)(2)/204/16-17 dated 01/05/2017 qua confirmation of disallowance u/s 14A. The assessment for impugned AY was framed by Ld. Assistant Commis....

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....s. 2.96 Lacs was added to the income of the assessee without adjusting the suo-moto disallowance offered by the assessee. Upon further appeal, first appellate authority while confirming the impugned additions, directed Ld. AO to adjust the suo-moto disallowance already offered by the assessee. Aggrieved, the assessee is in further appeal before us wherein Ld. Authorized representative for asses....

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....(2)(iii) is concerned, we find that the assessee has earned the stated exempt dividend income only from one investment i.e. DWS Ultra Short-Term Fund. The average investments in this fund is Rs. 25.49 Lacs & 0.5% of the same comes to Rs. 12,749/- which is less than suo-moto disallowance of Rs. 42,572/- offered by the assessee. This computation is in line with the decision of Delhi Tribunal (Specia....