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TMI Blog2019 (1) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... icial Member For the Assessee : Sh. V.P. Gupta, Adv. And Sh. Anunav Kr., Adv. For the Revenue : Ms. Ashima Neb, Sr. Dr. ORDER This appeal is filed by assessee against the Order dated 24.10.2014 passed by the Ld. CIT(A)-V, New Delhi relating to Assessment Year 2008-09. 2. The grounds raised read as under:- "1. That the AO/CIT(A) has erred in confirming the additions of a sum of ₹ 949398/- to the income of the appellant company being the loss on sale of investments treating the same as capital loss. 2. That the Ld. AO/CIT(A) has erred in confirming the additions of a sum of ₹ 102,886/- towards disallowance of expenses relatable to the exempted income u/s. 14A of the Income Tax Act, 1961. 3. The appellant craves leave to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ground that the Appellant Company had claimed a sum of ₹ 949,398 on account of loss on sale of investment under the head Administrative and other expenses whereas the same is not allowable as revenue expenses being the capital expenditure and based on this the order dated 08/01/2013 was passed by the learned CIT stating that "the order passed on 29/07/2010 is erroneous and pre judicial to the interest of Revenue on account of the fact that the loss on sale of Investment of ₹ 9,49,398/- has been allowed as revenue expenditure . The Appellant Company was informed of the same and was asked by the Learned Income tax Officer to present its case and during the proceedings u/s 263/143{3) addition of a sum of ₹ 949, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the learned CIT (A) Delhi which was decided against the Appellant Company vide order of the CIT Appeal dated 24.05.2017. The Appellant Company preferred an appeal before the ITAT, Delhi Bench against "the said order of the Learned CIT Appeal confirming penalty u/s 271(1)(c) of the Income Tax Act, 1961 and filed the same before ITAT. On receipt of the notice of hearing of appeal filed before ITAT, Delhi Bench against order of the CIT Appeal against penalty u/s 271(1)(c} of the Income tax Act, 1961, the present counsel of the Appellant Company enquired about the status of the appeal filed in ITAT Delhi Bench with respect to the additions made u/s 263/143{3} of the Income tax Act for the Assessment Year 2008-2009. On enquiring fro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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