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TMI Blog2019 (6) TMI 1113X X X X Extracts X X X X X X X X Extracts X X X X ..... Prasad, Addl. CIT ORDER PER B.R BASKARAN, ACCOUNTANT MEMBER The assessee has filed this appeal challenging the order dated 12/7/2018 passed by ld CIT(A)-II, Bengaluru and it relates to asst. year 2013-14. 2. The assessee is aggrieved by the decision of ld CIT(A) in confirming the enhancement of disallowance made by the AO over and above the amount disallowed by the assessee u/s 14A of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h in the case of Sivan Securities Pvt. Ltd. (ITA No.713 to 715/Bang/2018 dated 8/5/2019) and submitted that the disallowance made u/s 14A cannot exceed the amount of dividend received by the assessee during the year. He submitted that the coordinate bench in the above said case had followed the decision rendered by another coordinate bench in the case of M/s Way2Wealth Securities Pvt. Ltd. (ITA No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowance made by the assessee Rs. 3023.29 lakhs is more than the dividend amount of Rs. 205.44 lakhs. Hence, we are of the view that the disallowance voluntarily made by the assessee would meet the requirements of sec.14A of the Act. Accordingly we are of the view that further disallowance made by the AO and confirmed by ld CIT(A) is not warranted in the facts and circumstances of the case. Accor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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