2018 (1) TMI 1724

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....DARA, JUDICIAL MEMBER: This assessee's appeal for assessment year 2012-13, arises against the CIT(A)-10, Ahmedabad's order dated 05.05.2015, in case no. CIT(A)- 10/ACIT Cir1(3)/734/2014-15, upholding Assessing Officer's action making Section 14A r.w. Rule 8D (2)(ii) proportionate interest of Rs. 2,41,462/- and clause (iii) administrative expenditure disallowance @ .5% of the average value of inv....

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....gned disallowance ought not to have exceeded the entire exempt income amount (supra) as per hon'ble Delhi high court's judgment (2015) 372 ITR 694 (Del) Joint Investments Pvt. Ltd. vs. CIT. Mr. Kabra on the other hand strongly supports both the lower authorities' action invoking the impugned disallowance. He however fails to rebut the above legal proposition as per hon'ble Delhi high court's recen....