2019 (7) TMI 2067

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....Shri R. Clement Ramesh Kumar, Addl. CIT For the Respondent : Shri K. Raju, General Manager, Legal & Taxation ORDER PER DUVVURU RL REDDY, JUDICIAL MEMBER: This appeal filed by the Revenue is directed against the order of the ld. Commissioner of Income Tax (Appeals) 6, Chennai dated 16.11.2018 relevant to the assessment year 2014-15. The Revenue has challenged the order of the ld. CIT(A)....

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....termining the assessed total income at Rs.. 9,93,85,631/- after making disallowance of Rs..69,69,630/- under section 14A of the Act. On appeal, after considering the submissions of the assessee and facts of the case and by following the decision in the case of CIT v. Chettinad Logistics (P) Ltd. [2017] 80 taxmann.com 221 (SC), the ld. CIT(A) deleted disallowance made under section 14A of the Act. ....

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....ed that the assessee has made investments whose income is not includable in the total income of the assessee. Therefore, the Assessing Officer invoked the provisions of section 14A of the Act and disallowed the expenses determined in accordance with Rule 8D of the Income Tax Rules. On appeal, by following the decision in the case of CIT v. Chettinad Logistics (P) Ltd. (supra), wherein, while dismi....