2023 (9) TMI 1551

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.... Barman, Addl. CIT, Sr. D/R. ORDER PER MANISH BORAD, ACCOUNTANT MEMBER: This appeal filed by the assessee pertaining to the Assessment Year (in short 'AY') 2012-13 is directed against the order passed u/s 250 of the Income Tax Act, 1961 (in short the 'Act') by ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi [in short 'ld. CIT(A)'] dated 27.04.2023 arising out of the assessment order ....

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....e u/s 14A of the Act at Rs. 13,28,529/- without considering the fact that the assessee has not earned any exempt income during the year. 4. We have heard rival contentions and perused the records placed before us. We notice that the assessee is a private limited company and is a non-banking finance company. Income of Rs. 40,32,330/- declared in the e-return filed for AY 2012-13 on 30.09.2012. D....