2017 (10) TMI 1637

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.... ORDER PER G.D.AGRAWAL, PRESIDENT Aggrieved by the order dated 20.07.2015 in Appeal No.233/14-15 passing by the Commissioner of Income Tax (Appeal) [in short "CIT(A)"]-I, New Delhi for 2010-11 Assessment Year, the assessee filed this appeal on the following grounds:- 1. "The ld.CIT(A) has erred in law and facts of the case in confirming the action of the Ld.AO for invoking the provi....

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....proceedings u/s 143(3) of the Act, the AO made the following disallowances:- (i) Disallowance of interest paid Rs.22,50,000/- (ii) Disallowance of Rent Rs.16,30,500/- (iii) Maintenance Income Rs.50,32,287/- (iv) Disallowance of compensation expenses Rs.1,09,17,200/- (v) Disallowance u/s 14A Rs.2,56,169/- 3. In the appeal preferred by the assessee, Ld....

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....ion 14A of the Act envisages that there should be an actual receipt of income which is not included in the total income for application of section 14A of the Act and where there is no exempt income either received or receivable during the relevant previous year, section14A of the Act has no application at all. Here in this matter, vide Paragraph No.7.1 of the assessment order, it is found that the....