DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. HEAD INFOTECH INDIA PRIVATE LIMITED, HYDERABAD

For Revenue : Shri S Rajat Mitra For Assessee : Shri Pawan Kumar Chakrapani Date of Hearing : 15-09-2020 Date of Pronouncement : 29-09-2020 O R D E R PER Smt. P. MADHAVI DEVI, J.M. :

This is revenue’s appeal for the AY.2013-14 against the order of the Commissioner of Income Tax (Appeals) - 2, Hyderabad, dated 01/12/2017. The grounds of appeal raised by the revenue are as under: 1) The CIT(A) erred in both facts of the case and in law. 2) Whether, on the facts and circumstances of the case, the CIT(A) is correct in law in allowing the finance expenses even though the same was not incurred wholly and exclusively for the purpose of business of the assessee company.

:- 2 -: Head Infotech India Pvt. Ltd., Hyd.

3) Whether, on the facts and circumstances of the case, the CIT(A) is correct in law allowing the finance expenses even though there was no commercial expediency. 4) Whether, on the facts and circumstances of the case, the C1T(A) is correct in law in deleting the addition made on account of disallowance u/s 14A on the ground that no exempt income was received during the previous year which is against the CBDT circular No. 05/2014. 5) Any other ground that may urge during the course of appellate proceedings.”