2019 (12) TMI 1302

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....filed by the Revenue is directed against the order dated 5th June, 2017 of the CIT(A)-1, New Delhi, relating to assessment year 2014-15. 2. The grounds raised by the Revenue are as under:- "1. The ld.CIT(A) has erred in law and on facts in restricting the addition to Rs. 5512/- as against Rs. 1,79,74,266/- made by the AO on account of disallowance u/s 14A r.w.r. 8D of Income Tax Rules. 2. The....

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....e Revenue is in appeal before the Tribunal. 5. After hearing both the sides, we do not find any infirmity in the order of the CIT(A). The Delhi Special Bench of the Tribunal in the case of Vireet Investment Pvt. Ltd. and Anr. (2017) 165 ITD 0027 (Del) (SB), held that average value of investment which yielded exempt income during the year only shall be considered for the purpose of disallowance u/....