2018 (11) TMI 1854

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....or the Revenue : Shri R.S. Arvindakshan ORDER PER S. RIFAUR RAHMAN, AM: This appeal is filed by the assessee against the order of CIT(A) - 7, Hyderabad, dated 17/11/2017 for AY 2013-14. 2. Brief facts of the case are, the assessee, proprietor of M/s Chowdary Enterprises, dealing in business of Poultry Equipments, mesh and Nipples etc., filed her return of income on 29/11/2013 declaring....

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....der of AO, the assessee preferred an appeal before the CIT(A) and submitted that section 14A provides for disallowance of expenditure incurred in relation to income not includible in the total income. However, the AO has considered the disallowance of interest expenditure of Rs. 14,52,640/- against the income claimed as exempt of Rs. 2,59,298/-. She contended that no prudent businessman would incu....

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....ment made from out of her own funds and such investment was for the purpose of business of the appellant. 4. The learned Commissioner of Income-Tax (Appeals) ought to have considered the submissions made before him and deleted the addition made by the Assessing Officer. 5. The learned Commissioner of Income-Tax (Appeals) erred in confirming charging of interest u/s 234B and 234C ....