TaxTMI 
TaxTMI 
2020 (12) TMI 161
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....ember (A) The assessee has filed this appeal challenging the order dated 25/02/2020 passed by ld CIT(A)-11, Bengaluru and it relates to asst. year 2014-15. 2. The assessee is aggrieved by the decision of ld CIT(A) in confirming the enhancement of disallowance made by the AO over and above the amount disallowed by the assessee u/s. 14A of the Act. 3. We heard the parties and perused the record. ....
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....4A cannot exceed the amount of dividend received by the assessee during the year. He submitted that the coordinate bench in the above said case had followed the decision rendered by another coordinate bench in the case of M/s. Way2Wealth Securities Pvt. Ltd. (ITA No. 1679/Bang/2017) dated 1/6/2018, wherein the said coordinate bench has followed the decision rendered by Hon'ble Delhi High Court....
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....the assessee in AY 2013-14 (referred supra). For the sake of convenience, we extract below the operative portion of the order passed in AY 2013-14:- "6. Having heard rival contentions, we are of the view that there is merit in the contentions of the assessee. During the course of hearing the ld AR also submitted that the assessee had received dividend from only one company named M/s. Mind Tree L....
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....tation of income placed at page 65 of the paper book, the assessee has also earned Long term capital gain of Rs. 13 crores and claimed the same as exempt. Thus aggregate amount of exemption claimed was Rs. 21.47 crores. We also notice that the dividend income was received from one group company named M/s. Mindtree Limited and the long term capital gain was also earned on sale of shares of M/s. Min....