2017 (10) TMI 1571

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....Ramesh, Joint CIT(DR) For the Respondent : Shri S.Ganesh, Advocate. ORDER Per INTURI RAMA RAO, AM : This is an appeal filed by the revenue directed against the order of the Commissioner of Income-tax (Appeals)-12, Bengaluru, dated 12/02/2016 for the assessment year 2009-10. 2. The revenue raised the following grounds of appeal: 2. Briefly facts of the case are as under: The respo....

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....assessment order, an appeal was preferred before the CIT(A) challenging addition u/s 14A on the ground that the AO should not resort to disallowance u/s 14A without giving a finding as to correctness or otherwise of the claim of the assessee that no expenditure was incurred to earn exempt income. It was further contended that in any event, amount of disallowance should not exceed exempt income as ....

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....rfere with the order of the CIT(A). 6. In the result, the appeal filed by the revenue is dismissed. Order pronounced in the open court on 27th October, 2017 ============= Document 1 1. The order of the Commissioner of Income Tax(Appeals) - 12, Bangalore, is opposed to the law and not on the facts and circumstances of the case. 2. On the facts and circumstances of the case, w....

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....17/2015 (2015-TOIL-574-HC-DEL-IT) and the decision of ITAT Mumbai, in the case of Daga Global Chemical Pvt Ltd v. ACTI ITA no.5592/Mum/2012 for the proposition that the disallowance under section 14A cannot exceed the amount of income claimed exempt. In Joint Investments Pvt Ltd v. CIT (supra), the Hon'ble Delhi High Court has held as under: "By no stretch of imagination can Sect....