TaxTMI 
TaxTMI 
TaxTMI 
2021 (10) TMI 279
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....4, i.e. ITA No.169/Ahd/2019. 3. It is pertinent to observe that these appeals were listed on earlier occasion, i.e. on 20th April 2021. The assessee filed a letter requesting for adjournment on that date and the hearing was accordingly adjourned to 17th June 2021. On 17th June 2021, the Bench did not function and the hearing was adjourned to 15th July 2021 and a fresh notice was issued to the assessee. The assessee again filed an adjournment application and the hearing was adjourned to 4th October 2021. This date was duly communicated in the course of hearing and also displayed in the cause list. A fresh notice was also issued to the assessee in this regard; but, inspite of this, no one has come present before the Tribunal on behalf of the....
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....wance of administrative expenses on investment in shares totaling to Rs. 32,000/-, as the assessee having not received any dividend, in view of decision of Gujarat High Court in the case of CIT vs. Corrtech Energy Pvt Ltd and other decisions, the provision of Section 14A do not apply." 7. With the assistance of learned Departmental Representative, we have perused the assessment order. The findings of the learned Assessing Officer on this point read as under:- "6. Disallowance u/s 14A r.w.r. 8D 6.1 The assessee was asked vide order sheet noting dated 04.02.2016 to provide for the applicability of disallowance u/s. 14A r.w.r. 8D. 6.2 The reply of the assessee in this regard vide submission dated 'Nil' is kept on record. O....
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.... in 124 TTJ 577 (Del) (SB) as well as his findings in AY 2014-15, we find that the learned Assessing Officer was for the view that the disallowance under Section 14A of the Act is to be made by keeping in mind the reasoning that the expenditure in relation to the exempt income is required to be disallowed and not to examine whether the expenditure incurred by the assessee has resulted into exempt income or taxable income. According to him, what is relevant is to work out the expenditure in relation to the exempt income and not to examine whether the expenditure incurred by the assessee has resulted into exempt income or taxable income. Firstly the Special Bench decision of the Tribunal put into service by the Assessing Officer at serial no.....
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....e learned CIT(A) has erred in confirming the disallowance of travelling expenses amounting to Rs. 1,34,066/-. 10. A perusal of the impugned order would reveal that these expenditures were incurred in Assessment year 2012-13. It was crystallized in that year. Therefore, according to the Revenue Authorities, it should have been claimed in the earlier year. The assessee has pleaded that since there is a same rate of taxes; therefore, this expenditure should be allowed in this year also. We do not find any force in this contention of the assessee; because if that be so, then it will be at the sweet will of the assessee to declare the quantum of income in any assessment year. The assessee may show higher income in a particular year and lower in....
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....ive expenses @ half percentage of average investment. On due consideration of the facts and circumstances of the case, we are of the view that the disallowance in any case cannot exceed the exempt income in itself. The expenditure is to be disallowed relatable to earning of exempt income. So, it cannot be assumed that Rs. 2,21,640/- could be incurred for earning tax-free income of Rs. 1,81,315/-. This is an erroneous approach at the end of the Assessing Officer - more particularly in view of the judgment of Hon'ble jurisdictional High Court in the case of CIT vs. Corrtech Energy Pvt Ltd, reported in [2015] 372 ITR 97 (Gujarat). The assessee has disallowed Rs. 2,000/- itself on administrative expenses. To our mind, that is also on the lower ....