2023 (1) TMI 1515

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....lhi (hereinafter referred to as the First Appellate Authority or in short 'Ld. F.A.A.') in regard to the appeal before it arising out of assessment order dated 19/12/2018 u/s 143(3) of the Income Tax Act, 1961 passed by ACIT, Central Circle-12(1), New Delhi (hereinafter referred to as the Assessing Officer or 'AO') and Cross objection have been filed by assessee. 2. Heard and perused the record. 3. The Revenue has come in appeal raising following grounds :- "1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT (A) has erred in deleting the addition of Rs. 1,52,96,323/- made by the AO on account of disallowance u/s 14A of the Income Tax Act, 1961 ('the Act') read with the provisions of Rule....

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....k Brokers (P.) Ltd. [2010] 192 Taxman 211/326 ITR 1 (SC)], has held that "Expenses allowed can only be in respect of earning of taxable income" ? 1. The appellant craves leave to add, amend, vary, omit or substitute any of the aforesaid grounds of appeal at any time before or at the time of hearing of appeal." 3.1 The Assessee has raised the following grounds in Cross Objections:- "That on the facts and in the circumstances of the case, and in law: 1. The Learned Commissioner of Income Tax (Appeals) ["Ld. CIT(A)"], has erred in computing disallowance under section 14A of the Act at Rs. 69,000 as against the amount of disallowance of Rs. 75 which was already disallowed suo moto by the Appellant in the ....

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....n the facts and circumstances of the case and in law, Education Cess ("EC") and Secondary Higher Education Cess ("SHEC") paid on Income Tax and Dividend Distribution Tax ("DDT") needs to be considered as an allowable expenditure under section 37(1) of the Act. The appellant craves leaves to add, amend, alter, delete, rescind, forgo or withdraw any of the above grounds of cross-objections either before or during the hearing before Hon'ble ITAT." 4. On behalf of the revenue it was submitted that Ld. CIT (A) has fallen in error in deleting the addition while Ld. AR supported the findings of Ld. CIT (A) and pressing that still CIT(A)'s order is not sustainable in regard to leaving matter for further enquiry of the Ld. AO. 5. Appreciating ....