KIRLOSKAR PNEUMATIC CO.LTD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 14,, PUNE
In the result, appeal of the assessee is partly allowed
ITA 983/PUN/2018[2015-16]Status: DisposedITAT Pune12 Sept 2022AY 2015-16
Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.983/Pun/2018 िनधा"रणवष" / Assessment Year : 2015-16 Kirloskar Pneumatic Co. Ltd., The Dcit, Circle-14, Hadapsar Industrial Estate, Vs Pune. Pune Solapur Road, Hadapsar, Pune – 411013. Pan:Aaack 2479 C Appellant/ Assessee Respondent / Revenue Assessee By Shri C.H.Naniwadeker – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 13/07/2022 Date Of Pronouncement 12/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Appellant Assessee Namely Kirloskar Pneumatic Co. Ltd. Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-7, Pune Dated 09.04.2018 Emanating From The Order Of Deputy Commissioner Of Income Tax, Circle-14, Pune Under Section 143(3) Of The Act, 1961. The Grounds Of Appeal Are As Under: “1. The Learned Cit(A) Erred On Facts & In Law In Upholding Disallowance Of Rs.57,44,010/- U/S 14A R.W.R. 8D Without Appreciating The Facts & Submissions Made In This Behalf. He Also Failed To Appreciate That Before Invoking Rule 8D, The A.O. Has Not Recorded His Satisfaction As Required By Law. 2. The Learned Cit(A) Erred On Facts & In Law In Upholding 50% Ad-Hoc Disallowance Of Gift & Present Of Rs.16,06,635/- U/S
Section 143(3)Section 14ASection 14A(2)
87,49,508/-. In view of the facts, it was questioned why the provisions of section 14A r w Rule
8D(2)(iii) should not be invoked. Further, on perusal of computation of income, it was observed that the assessee on his
ITA No.983/PUN/2018 for A.Y. 2015-16
Kirloskar Pneumatic Co. Ltd., [A]
own disallowed
