KAMALPAT R. CHOPRA,MUMBAI vs. ITO 16(3)(3), MUMBAI

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ITA 7532/MUM/2013Status: DisposedITAT Mumbai27 May 2016AY 2009-102 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found no justification for the disallowance as the Assessing Officer did not point out any expenditure incurred for earning exempt income, and the assessee did not claim any such expenditure. Therefore, the disallowance was deleted.

What were the facts?

The assessee appealed against the CIT(A)'s order for assessment year 2009-10. One ground of appeal was dismissed as not pressed. The second ground related to a disallowance of Rs. 2,38,778/- under Section 14A read with Rule 8D.

What were the issues?

Whether disallowance under Section 14A read with Rule 8D is justified when no expenditure was incurred or claimed for earning exempt income.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A”, BENCH MUMBAI

Before: SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM

Hearing: 11/05/2016Pronounced: 27/05/2016

PER R.C.SHARMA (A.M): This is an appeal filed by the assessee against the order of CIT(A)- Mumbai, dated 25-10-2013, for the assessment year 2009-10. 2. Ground No.1 was not pressed by ld. AR, the same is, therefore, dismissed in limine.

3.

Ground No.2 relates to disallowance of Rs.2,38,778/- u/s.14A r/w.8D.

4.

It was contended by ld. AR that no expenditure was incurred for earning exempt income. Our attention was invited to the details filed before the lower authorities.

5.

We have considered rival contentions and carefully gone through the orders of authorities below. The AO has not pointed out any expenditure having been incurred directly or indirectly in earning exempt income. Keeping in view the facts and circumstances, we do not find any justification for the disallowance so made when no expenditure was claimed by assessee having been incurred for earning the exempt income.

6.

In the result, appeal of assessee is allowed in part. Order pronounced in the open court on this 27/05/2016. (AMARJIT SINGH) (R.C.SHARMA) न्यानयक सदस्य / JUDICIAL MEMBER ऱेखा सदस्य / ACCOUNTANT MEMBER भुंफई Mumbai; ददनांक Dated 27/05/2016 प्र.कु.मभ/pkm, नन.स/ PS आदेश की प्रनिलऱपप अग्रेपषि/Copy of the Order forwarded to : अऩीराथी / The Appellant 1. प्रत्मथी / The Respondent. 2. आमकय आमुक्त(अऩीर) / The CIT(A), Mumbai. 3. आमकय आमुक्त / CIT 4. ववबागीम प्रनतननधध, आमकय अऩीरीम अधधकयण, भुंफई / DR, ITAT, Mumbai 5. गार्ा पाईर / Guard file. 6. आदेशाि सार/ BY ORDER, सत्मावऩत प्रनत //// उप/सहायक पुंजीकार (Asstt.

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