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TMI Blog2013 (5) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent : Ms. Shumaina Sen, Sr. DR. ORDER Per T. S. Kapoor :- This is an appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals)-VIII, New Delhi dated 27.06.2012 for the assessment year 2009-10. The grounds of appeal taken by assessee are as under: "1. The orders of lower authorities are bad and wrong in law. 2. On facts and in the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) (CIT (A)) erred in confirming the disallowance of Rs.52,00,515/- u/s14A of the Income Tax Act, 1961. 3. That the authorities below grossly erred in applying rule 8D of Income Tax Rule,1962 to facts of the case since the application of the same resulted in absurd results. 4. Without prejudic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enses debited in profit and loss account was submitted and it was submitted that out of total administrative expenses amounting to Rs.9,10,121/- the assessee itself had made disallowance of Rs.7,42,023/- and had claimed total expenses of Rs.1,68,098/- only against which there was other taxable income. 4. The Ld. CIT (A) after going through the submissions filed by assessee did not agree with the contentions of assessee and upheld the addition made by AO by holding as under:- "I have considered the submissions of the appellant findings of the AO and the facts on record. The Hon'ble Bombay High Court in the case of Godrej boyce Manufacturing Co. Ltd. vs. DCIT 328 ITR 81 has held that rule 8D is applicable from A. Y 2008-09. Rule 8D cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of rule 8D which comes to Rs.59,42,538/- and after adjusting the disallowance made by the appellant of Rs.7,42,023/- which resulted in a total disallowance of Rs.52,00,515/- is as per law. The contention of the appellant that this is more than the administrative expenses incurred by the appellant does not hold good in view of the fact that the terminology used in rule 8D is the term expenditure and not expenditure on account of administrative expenses. In view of the findings above, the disallowance made by the AO is as per law. These grounds of appeal are dismissed." 5. Aggrieved, the assessee filed appeal before this Tribunal. At the out set the Ld. AR took us to page 11 of paper book wherein, a copy of profit and loss account was place ..... X X X X Extracts X X X X X X X X Extracts X X X X
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