2017 (3) TMI 1763

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....he Appellant : Shri. C. Ramesh, CA For the Respondent : Shri. M. K. Biju, JCIT ORDER Per Sunil Kumar Yadav, Judicial Member This appeal is preferred by the assessee against the order of CIT(A) on the following grounds: 1. The order of the learned Commissioner of Income Tax (Appeals) is opposed to the facts of the case and law applicable to it. 2. The learned Commissio....

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.... ITA No.359/2011, wherein it is held that, in the absence of exempt income no disallowance can be made U/s.14A of the act. 5. The learned Commissioner of Income Tax (Appeals) erred in not appreciating the fact that, the disallowance U/s.14A of the act, has been made by the Assessing Officer without any material to prove that, the appellant has infact incurred any expenditure in connection....

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....ion 14A of the Act. Besides, he also placed reliance upon series of judgments mentioned in the written submissions. Copy of the order of the Tribunal in which identical view has been taken in the case of M/s.Fair Exports (India) P. Ltd., Vs. ACIT in ITA No.1880/2012 of Mumbai Bench is placed on record. 3. The learned DR simply placed reliance upon the order of the CIT(A). 4. Having carefully....