M/S. Overseas Carpets Ltd., New Delhi vs. ACIT, New Delhi
In the result, the appeal of the assessee is partly allowed
ITA 5062/DEL/2011[2008-09]Status: DisposedITAT Delhi22 Mar 2016AY 2008-09
Bench: Smt. Diva Singh & Sh. O.P. Kantassessment Year: 2008-09 M/S. Overseas Carpets Ltd, V/S Asstt. Commissioner Of 1-1/16, Shanti Mohan House, Income Tax, Circle-13 (1), Ansari Road, Daryaganj, New Delhi New Delhi (Pan: Aaaco0404H) (Appellant) (Respondent) Appellant By Ms. Charu Goyal, Ca Respondent By Sh. P. Dam Kanunjana, Sr. Dr Date Of Hearing 24/02/2016 Date Of Pronouncement 22/03/2016 Order Per O.P. Kant, A.M.: This Appeal Of The Assessee Is Directed Against Order Dated 13/07/2011 Of The Commissioner Of Income Tax (Appeals)-Xvi, New Delhi For Assessment Year 2008-09 Raising Following Grounds: 1. That The Cit Appeals Has Erred In Determining The Total Income At Rs. 1,63,91,923/-. 2. That The Ld. Cit Appeals Of Income Tax Has Erred In Making Disallowance Of Rs. 13,91,082/- Under Section 14A Of The Act, Which Is Bad In Law & Against Facts & Circumstances Of The Case. 3. The Appellant Craves Leave To Add, Alter, Amend, Amplify Or Delete Any Or All Of The Grounds Of Appeal Before Or At The Time Of Hearing.
Section 143(3)Section 14A
…laim, the assessee cited number of cases before the Ld. Commissioner of Income-tax (Appeal). The Ld. Commissioner of Income-tax(Appeals), however, relying on the decision of the Tribunal, Mumbai bench in the case of M/s Daga Capital Management Private Limited 312 ITR 1 and judgment of the Hon’ble High Court of Calcutta in the case of M/s Dhanuka and sons v/s CIT Central-1 in ITA No. 633 of 2004, confirmed the disallowance made by the AO under section 14A of the Act. Aggrieved, the assessee in appeal before the Tribunal. 3. The only effective ground of appeal is in respect of disallowance of Rs. 13,91,082/-under s…
