BRITANNIA INDUSTRIES LTD,KOLKATA vs. DCIT, CIR-7(1), KOLKATA
In the result, the appeal of the assessee is allowed
ITA 461/KOL/2023[2018-19]Status: DisposedITAT Kolkata14 Dec 2023AY 2018-19
Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 461/Kol/2023 Assessment Year: 2018-19 Britannia Industries Ltd. Dy. Cit, Circle-7(1), Kolkata 5/1A, Hungerford Street Vs Shakespeare Sarani Kolkata - 700017 [Pan: Aabcb2066P] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Kush Kanodia, A/R Revenue By : Shri Subhendu Datta, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 19/10/2023 घोषणा क" तारीख /Date Of Pronouncement: 14/12/2023 आदेश/O R D E R Per Dr. Manish Borad: The Above Captioned Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 24/03/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal :- “1. For That On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Failed To Appreciate That The Appellant Had Suo Moto Computed & Disallowed Sum Of Rs.14,10,610/- Which Inter Alia Included Sum Of Rs.14,19,009/- Computed In Terms Of Rule 8D(2)(Ii) Being 1% Of The Value Of Tax Free Investments & Therefore The Ao Had Factually Erred In Holding That The Aforesaid Voluntary Disallowance Represented Disallowance Offered By Way Of Direct Expenditure U/S 14A Read With Rule 8D(2)(I) & Thereby Wrongly Computed Further Disallowance Of Rs.13,32,000/- In Terms Of Rule 8D(2)(Ii).
For Appellant: Shri Kush Kanodia, A/RFor Respondent: Shri Subhendu Datta, CIT, D/R
Section 115Section 14ASection 250Section 35Section 45Section 80G
ii) was Rs.14,10,610/-. We thus hold that the aggregate sum disallowable u/s 14A read with Rule 8D for the relevant year was Rs.14,19,009/- [8,399 + 14,10,610] which is noted to have already been offered by the appellant in the return of income. Hence, the plea of the assessee that no further disallowance
