2025 (4) TMI 1864

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.... assessee against the orders of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 14.05.2024 for the AYs 2012-13 & 2013-14. ITA No. 1332/KOL/2024 02. The only issue raised by the assessee in the various grounds of appeal is against the confirmation of addition of Rs. 33,41,021/- by the ld. CIT (A) as made by the ld. AO u/s 14A of the Act r.w.r. 8D....

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....he ld CIT(A) decided these appeals ex-parte. The issue involved in the present case is that the assessee has earned exempt income of Rs. 13,18,219/- against which the ld. AO made disallowance u/s 40(A) Rule 8D of the Rules of Rs. 33,41,021/-. In our opinion, the disallowance cannot exceed the amount of exempt income as has been held in the cases of Principal commissioner of Income Vs Reliance Chem....