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TMI Blog2019 (2) TMI 1069X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the assessee has debited various expenditure aggregating to ₹ 59.53 Lacs in the profit & loss account. The expenditure under the head commission & depreciation aggregate to ₹ 54.24 Lacs whereas the balance expenditure under other heads aggregate to ₹ 5.29 Lacs. The commission and depreciation have no nexus with earning of exempt income whereas out of balance expenditure o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i, [CIT(A)], Appeal No. CIT(A)-48/I.T-12/DCCC-2(3)/2016-17 dated 29/08/2017 qua confirmation of disallowance u/s 14A. 2.1 Facts in brief are that the assessee being resident individual and a Film Actress by profession was assessed for impugned AY in scrutiny assessment u/s 143(3) on 29/03/2016 by Ld. Deputy Commissioner of Income Tax-Central Circle-2(3), Mumbai [AO] wherein the income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess before Ld. CIT(A) vide impugned order dated 29/08/2017 wherein the assessee drew attention to the erroneous calculations made by Ld. AO in view of the fact that certain loans / deposits were considered as investments by Ld. AO. However, this plea got rejected for want of documentary evidences. The Ld. CIT(A), noticing that there was churning of funds during impugned AY, concluded that the prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... offered by the assessee. Per Contra, Ld. DR, Ch. Arun Kumar Singh, supported the stand of first appellate authority. 5. We have carefully heard the rival submissions and perused relevant material on record including documents placed in the paperbook. It is observed that the assessee has already offered suo-moto disallowance of ₹ 2.34 Lacs u/s 14A in her computation of income, whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f ₹ 2.34 Lacs. The same, in our opinion, was more than sufficient to cover up the requisite disallowance. Therefore, on the facts and circumstances of the case, the additional disallowance of ₹ 8.95 Lacs as made by Ld. AO could not be sustained. By deleting the same, we allow the appeal. 6. The appeal stands allowed in terms of our above order. Order pronounced in the open cour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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