2016 (4) TMI 1418

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..... CIT, Sr, DR ORDER Shri P.M. Jagtap, A.M. This appeal filed by the assessee is directed against the order of ld. CIT-XXIV, Kolkata, dated 04.03.2013 for the assessment year 2008- 09 whereby he confirmed the disallowance of Rs. 74,272/- made by the AO under section 14A of the Income-Tax Act, 1961 read with rule 8D of Income-Tax Rules 1962. 2. The assessee in the present case is an indi....

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....ares, bonds and mutual funds as on 31.03.2008- Rs. 1,67,28,773/- Investment in shares, bonds and mutual funds as on 31.03.2009 - Rs. 1,29,79,962/- Total - Rs. 2,97,08,735/- Average - - Rs. 1,48,54,367.5/- Disallowance @0.5% - Rs. 74,272/- 3. On appeal, the ld. CIT(A) confirmed the disallowance made by the AO under section 14A of the Act read with rule 8D of the Income....