2021 (6) TMI 498

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.....P. Walimbe ORDER Per Inturi Rama Rao, AM This is an appeal filed by the assessee company directed against the order of the ld. Commissioner of Income Tax (Appeal), Pune-3 dated 12.01.2018 for the assessment year 2013-14. 2. The appellant company raised the following grounds of appeal:- "On the facts and circumstances of the case and in law, the learned CIT(A): 1. err....

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.... brokerage. The return of income for the assessment year 2013-14 was filed on 28.09.2013 declaring total income of Rs. 1,36,49,310/-. The scrutiny assessment was completed u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') by the Deputy Commissioner of Income Tax, Circle-4, Pune (in short 'the AO') vide order dated 29.01.2016 at total income of Rs. 1,47,....

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....value of investment which yields exempt income alone has to be considered. However, this contention was rejected by the ld. Commissioner of Income Tax (Appeal) vide his impugned order. 5. Being aggrieved by the order of the ld. Commissioner of Income Tax (Appeal), the assessee company is before us in the present appeal. 6. Before us, Ld. Counsel-Authorized Representative stated that the grou....

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....ed the materials available on record. The only issue that arises for consideration is manner of computing the amount of disallowance under sub clause (iii) of sub-rule (2) of Rule 8D of the Rule. The issue as regards to the applicability of provision of section 14A of the Act is not under challenge before us. The Hon'ble Special Bench of Income Tax Appellate Tribunal, Delhi in the case of Asst....