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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 ..... from only one company named M/s Mind Tree Ltd. Further the amount of disallowance made by the assessee ₹ 3023.29 lakhs is more than the dividend amount of ₹ 205.44 lakhs. Hence, we are of the view that the disallowance voluntarily made by the assessee would meet the requirements of sec.14A . Accordingly, we are of the view that further disallowance made by the AO and confirmed by CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T(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. 3. We heard the parties and perused the record. The assessee is engaged in the business of managing hotels and resorts. The assessee had earned dividend income of ₹ 205.44 lakhs and claimed the same as exempt. The assessee disallowed a sum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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.1679/Bang/2017) dated 1/6/2018, wherein the said coordinate bench has followed the decision rendered by Hon ble Delhi High Court in the case of Joint Investment Pvt. Ltd., 372 ITR 694 and Holecim India Pvt. Ltd., 272 C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y 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. Accordingly we set aside the order passed by ld CIT(A) on this issue and direct the AO to delete further addition made by him u/s 14A of the Act. 7. In the res ..... X X X X Extracts X X X X X X X X Extracts X X X X
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