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TMI Blog2020 (9) TMI 274X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has not borrowed any loan towards any investment which earned exempt income and it has not claimed any interest expenditure as an expenditure from any of its income and therefore, section 14A r.w.r. 8D is not applicable. HELD THAT:- Since these aspects have not been examined, we are of the view that this issue requires a fresh examination. Therefore, we remit the issue back to the AO f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Income Tax (Appeals)-1, Madurai, in ITA No. 101/2016-17 dated 28.01.2019 for assessment year 2013-14. 2. M/s. S. Annamalai, a big HUF. While making the assessment for assessment year 2013-14, the assessee claimed dividend income at ₹ 1,59,954/-. The AO computed disallowance u/s. 14A r.w.r. 8D at ₹ 25,50,600/-. Aggrieved, the assessee filed an appeal before the CIT(A). The Ld. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f land and hence disallowed the entire interest expenditure of ₹ 9,46,855/- in the assessment made for the assessment year 2012-13 u/s. 143(3) dated 21.03.2015. The Assessing Officer has also failed to consider the facts that in the computation statement, though the assessee has arrived interest loss of ₹ 16,23,795/-, it has not claimed any interest expenditure in the return. Theref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom any of its income and therefore, section 14A r.w.r. 8D is not applicable. Since these aspects have not been examined, we are of the view that this issue requires a fresh examination. Therefore, we remit the issue back to the AO for a fresh examination. The assessee shall lay relevant materials in support of its contention before the AO and comply with the requirements of the AO in accordance w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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