TaxTMI 
TaxTMI 
2023 (7) TMI 672
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.... ORDER PER N. K. BILLAIYA, ACCOUNTANT MEMBER : - This appeal by the assessee is preferred against the order of the ld. CIT(A) - 6, Delhi dated 14.11.2018 pertaining to Assessment Year 2015-16. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the disallowance of Rs. 23,08,947/- made by the Assessing Officer u/s 14A of the Income-tax Act, 1961 [th....
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....llowance u/s 14A r.w.r 8D of the Act and made addition of Rs. 23,08,947/-. 6. The assessee carried the matter before the ld. CIT(A) but without any success. 7. Before us, the ld. counsel for the assessee vehemently stated that it is a settled law that the Assessing Officer has to verify the correctness of the assessee's claim that no expenses were incurred for earning tax free income. It is the ....
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....spect of correctness of the claim of the assessee that it has incurred NIL expenses for earning exempt income. 10. The Hon'ble Jurisdictional High Court in the case of Maxopp Investment Vs. CIT [2012] 347 ITR 272 [Delhi] had occasion to consider an identical issue and held as under: "First of all, A 0, to ascertain the correctness of the claim of the assessee in respect of the expenditure i....
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....after giving the assessee a reasonable opportunity, satisfied with the correctness of claim of the assessee, he shall have to reject the claim and state the reasons for doing so. The above judgment is affirmed by recent judgement of Apex Court in the case of Maxopp Investment Ltd. Versus Commissioner of Income Tax, New Delhi 2018 (3) TMI 805 -SUPREME COURT OF INDIA wherein it has been held that....