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TMI Blog2020 (11) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... have gone through the order in the case of the assessee itself for the assessment year 2012-13 [ 2018 (12) TMI 1651 - ITAT AHMEDABAD] wherein the disallowance in respect of administrative expenditure was restricted to ₹ 6 lacs after taking into consideration the total exempt income earned by the assessee of ₹ 63,35,308/-. Respectfully following the decision of the Co-ordinate Bench ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act . 2. The solitary ground of appeal of the assessee against the order of ld. CIT(A) in confirming the disallowance of ₹ 14,982,931/- u/s. 14A r.w.r. 8D of I.T. Rules. 3. The fact in brief is that return of income declaring income of ₹ 4,53,83,570/- was filed on 1st Nov, 2004. The case was subject to scrutiny assessment. The assessment u/s. 143(3) of the Act was completed on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee. 5. During the course of appellate proceedings before us, the ld. counsel has filed paper book comprising copies of balance sheet, profit and loss account and order of the ITAT pertaining to the assessment year 2012-13. The ld. counsel has contended that vide ITA No. 750/Ahd/2016, the Co-ordinate Bench of the ITAT in the case of the assessee itself on similar issue and identical facts has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee has submitted that it had share capital and reserves of ₹ 532.12 crores as on 31st March, 2014 as against investment of ₹ 14.60 crores. Therefore, there was no justification for making disallowance out of interest expenditure incurred on earning exempt income. However, in respect of disallowance of administrative expenditure, we have gone through the order of the Co-ordinat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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