2020 (11) TMI 694

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....ah, A.R. For the Revenue : Shri L.P. Jain, Sr. D.R. ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee's appeal for A.Y. 2004-05, arises from order of the CIT(A)-9, Ahmedabad dated 03-07-2018, in proceedings under section 143(3) r.w.s. 254 of the Income Tax Act, 1961; in short "the Act". 2. The solitary ground of appeal of the assessee against the order of ld. CIT(A) in co....

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....assed order u/s. 143(3) r.w.s. 254 of the Act on 15th December, 2007 and computed disallowance u/s. 14A r.w. rule 8D of the I.T. Rules to the amount of Rs. 14,82,931/-. 4. Aggrieved assessee has filed appeal before the ld. CIT(A). The ld. CITA has dismissed the appeal of the assessee. 5. During the course of appellate proceedings before us, the ld. counsel has filed paper book comprising cop....

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....ities. 6. We have heard both the sides and perused the material on record. The Assessing Officer has computed disallowance of Rs. 14,82,931/- for administrative expenses u/s. 14A r.w. Rule 8D of the I.T. Rules. During the course of assessment and appellate proceedings, the assessee has submitted that it had share capital and reserves of Rs. 532.12 crores as on 31st March, 2014 as against invest....