2021 (2) TMI 1298

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....AO, AM : This is an appeal filed by the 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 fil....

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....ed the action of the Assessing Officer. 3. 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 Limit....

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....of the lower authorities. 6. We heard the rival 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....