2019 (9) TMI 1722

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....: None PER SUCHITRA KAMBLE, JM This appeal is filed against the order dated 29.07.2016 passed by CIT(A)- 30, New Delhi for Assessment Year 2012-13. 2. The grounds of appeal are as under : 1. "Ld. CIT(A) erred in law and on facts of the case in deleting the disallowance of Rs.2,79,11,315/- made by AO on account of bank interest expenses. " 2. "Ld. CIT(A) erred in law and ....

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....720/-, after making the following additions on account of: i) Disallowance of interest paid on loan :Rs.2,79,11,315/- ii) Disallowance of legal & professional charges :Rs. 61,87,589/- iii) Disallowance of warehouse & demurrage charges:Rs. 27,67,483/- 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT(A) partly allowed the ....

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....sessee despite giving notice. Therefore, we are taking into account the submissions of the assessee before the CIT(A) as submissions before us. 7. We have heard the Ld. DR and perused all the relevant material available on record. As regards to Ground No. 1, from the perusal of the records it can be seen that the loan procured was utilized by the assessee wholly and exclusively for its business....

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....s regards to Ground Nos. 2 and 3, it can be seen that it is an admitted position that during the year there was no business activity, but during the said period the assessee incurred expenses on the maintenance of its business establishment. During the said year, the Assessing Officer has not pointed out any bogus or expenditure of personal nature, which will warrant any disallowance. The CIT(A) r....