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TMI Blog2017 (11) TMI 1625X X X X Extracts X X X X X X X X Extracts X X X X ..... of computation of expenses disallowance. We find the approach to be a quite fair, reasonable & plausible and therefore, find no reason to interfere with the same. - Decided against revenue. - I.T.A. No.5562/Mum/2016 - - - Dated:- 8-11-2017 - D.T. GARASIA AND SHRI MANOJ KUMAR AGGARWAL ORDER Per Manoj Kumar Aggarwal 1. The captioned appeal by revenue for Assessment Year [AY] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 377; 1,76,70,860/- as against returned income of ₹ 1,47,05,590/- e-filed by the assessee on 19/09/2013. The assessee has suffered disallowance u/s 14A for ₹ 29,65,268/- and the same is the subject matter of this appeal. 2.2 During assessment proceedings, it was noted that the assessee earned exempt dividend income of ₹ 2,99,750/- whereas it did not make any suo-moto disallowan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investments were strategic investment and further, the disallowance was to be computed with reference to those investment which yielded exempt income during the year. The disallowance, thus worked out, amounted to ₹ 9,200/-. Aggrieved, the revenue is in further appeal before us. The Ld. DR placed reliance on the stand of Ld. AO. 4. Heard and perused relevant material on record. We find t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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