9911796707
TMI Blog2020 (2) TMI 1645X X X X Extracts X X X X X X X X Extracts X X X X ..... . On perusal of the decision of ld. CIT(A), it is noticed that the impugned addition has been deleted holding that assessee has not earned any exempt income which based on similar facts discussed in appellate order in the case of the assessee itself for assessment year 2014-15. While deleting the aforesaid addition, the ld. CIT(A) has also placed reliance on the decision of Hon ble Gujarat High Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 2044/Ahd/2018 and Cross Objection No. 82/Ahd/2019 (In ITA No. 2044/Ahd/2018) - - - Dated:- 20-2-2020 - Shri Amarjit Singh, Accountant Member And Ms. Madhumita Roy, Judicial Member For the Revenue : Shri Kishan Vyas, CIT-D.R. For the Assessee : Shri Biren Shah, A.R. ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee s appeal for A.Y. 2015-16, arises from o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urred on account of interest payment on loans during the year under consideration. The assessing officer was of the view that assessee had not disallowed any expenses pertaining to exempt income not included in the total income. Therefore, vide notice u/s. 142(1) of the act the assessee was asked to explain why not provision of section 14A of the Act r.w.r. 8D of the I.T. Act should be attracted i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave heard rival contentions and perused the material on record. It is undisputed fact that assessee has neither earned any exempt income nor claimed any exempt income during the year under consideration. On perusal of the decision of ld. CIT(A), it is noticed that the impugned addition has been deleted holding that assessee has not earned any exempt income which based on similar facts discussed in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Bench of Delhi ITAT, it is held that expenditure incurred to exempt income not to be added for computing book profit u/s. 115JB of the act. Considering the above facts and judicial findings, we do not find any reason to interfere in the decision of ld. CIT(A), therefore, both the grounds of appeal of the revenue are dismissed. Cross Objection No. 82/Ahd/2019 5. Cross Objection filed ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
