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TMI Blog2021 (9) TMI 168X X X X Extracts X X X X X X X X Extracts X X X X ..... cumstances of the case in not appreciating the fact that AO made the disallowance in accordance with sec. 14A r.w.r 8D of the I.T Act only. 2. The Ld. CIT (A) has erred on the facts and circumstances of the case by deleting the addition made by the AO on account of disallowance of expenses on account of sale of content. 3. The Ld. CIT (A) has erred on the facts and circumstances of the case by deleting the addition made by the AO on account of software expenses. 4. The Ld. CIT (A) has erred on the facts and circumstances of the case by deleting the addition made by the AO on account of depreciation claim of software. 5. The Ld. CIT (A) has erred on the facts and circumstances of the case by partly allowing the addition made by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee earned dividend from mutual fund of Rs. 1,03,60,745/- and suo moto disallowed an amount of Rs. 5,57,215/- u/s 14A. The AO by resorting the provisions of Rule 8D(2)(ii) computed disallowance to Rs. 96,28,052/-. 5. The ld. CIT (A) directed the AO to recompute the disallowance u/s 14A by considering the investments from which dividend has been earned by the appellant company and relying on the order of the Special Bench of ITAT in the case of CIT Vs Vireet Investments Pvt. Ltd. 82 Taxman 415, we hereby direct that only the investments which yielded the exempt income be considered for computation of disallowance u/s 14A r.w. Rule 8D. Disallowance of Expenses on account of sale of content: 6. This issue pertaining to disallowance of ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee and since the ld. CIT (A) has followed the earlier orders of the Tribunal, we decline to interfere with the order of the ld. CIT(A). Legal & Professional expenses: 9. The assessee claim an expenses of consultancy charges of Rs. 12,94,46,194/- and 10,67,61,340/- under the head legal and professional expenses. The details of the expenses are as under: Consultancy charges Date Name Narration Amount Remarks 31/03/2014 RAJU & PRASAD CHARTERED ACCOUNTANTS FINANCE PROVISION 2012- 13_TDS RETURN, CERTIFICATES 120,752 Prior period expenses 31/03/2014 ERNST & YOUNG LLP FINAL MILESTONE_FINAL HEARING_HIGH COURTJVIERGER 522,362 Merger Expenses, capital expenses 31/03/2014 S.B.G. & CO VALUATION AND SHARE SWAP RATIO_MERGER WI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the purpose of merger of the company and Rs. 5,50,000/- paid to independent consultant are in the nature of capital expenditure. 12. Since, the ld. CIT (A) has gone through the details of expenditure and since the assessee has already disallowed an amount of Rs. 21,39,865/-, we hereby hold that the grounds of appeal of the revenue on this issue cannot be sustained. ITA No. 2210/Del/2018 A.Y. 2014-15: (Assessee) 13. With regard to the amount of Rs. 6,00,000/- confirmed by the ld. CIT (A), the ld. AR relied on the judgment in the case of CIT Vs Monnet Industries 332 ITR 627(Del.) and CIT Vs Prithvi Insurance Company Ltd. 63 ITR 632. 14. Section 35DD of the Income Tax Act states as under: "Amortization of expenditure in case of ama ..... X X X X Extracts X X X X X X X X Extracts X X X X
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