2021 (2) TMI 1298

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....assessee directed against the order of ld. Commissioner of Income Tax (Appeals)- 6, Pune ('CIT(A)' for short) dated 10.10.2017 for the assessment year 2012-13. 2. Briefly, the facts of the case are that the appellant is a firm engaged in the business of manufacturing of automotive components. The return of income for the assessment year 2012-13 was filed on 29.09.2012 declaring total income of R....

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.... Being aggrieved by the order of the ld. CIT(A), the appellant is before us in the present appeal. 4. Before us, it is submitted that the assessee made suo-motu disallowance of Rs.1,57,500/- towards expenditure incurred towards earning dividend income of Rs.31,50,000/-. It is submitted that the dividend income was received from Lumax Industries Limited in which the investments were made in the e....

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....al submissions and perused the material on record. The only issue in the present appeal relates to the computation of amount of disallowance u/s 14A of the Act. It is a matter of record that the assessee offered a suo-motu disallowance of Rs.1,57,500/- towards the expenditure to earn dividend income. It was specifically contended before the Assessing Officer and the ld. CIT(A) that no borrowed fun....