2019 (5) TMI 1379

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....k, D.R. ORDER PER RAJESH KUMAR, ACCOUNTANT MEMBER: The present appeal has been preferred by the assessee against the order dated 27.11.2013 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2011-12. 2. The various grounds raised by the assessee are as under: "1. The learned CIT(A) erred in confirming the action of t....

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....llowance Section 14A of the Act r. w Rule 8D of the l.T. Rules ignoring the fact that while working out such disallowance, only those investments which have yielded dividend income during the year has to be considered for the purposes of computing average value of investments. The Appellant craves leave to add to, alter or amend the above Grounds of Appeal as and when advised." 3. Grou....

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....ade suo-moto disallowance of Rs. 32,099/- under section 14A towards an exemption income without applying the rule 8D(2). The AO invoked rule 8D(2) and accordingly computed the disallowance at Rs. 17,50,450/- comprising only disallowance under rule 8D2(iii) and after allowing the deduction of suo-moto disallowance, a net addition of Rs. 17,18,351/- was made to the income of the assessee vide ord....