2018 (1) TMI 1724

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..... HELD THAT:- AR states very fairly that the impugned disallowance ought not to have exceeded the entire exempt income amount as per judgment Joint Investments Pvt. Ltd. vs. CIT [ 2015 (3) TMI 155 - DELHI HIGH COURT Revenue on the other hand strongly supports both the lower authorities action invoking the impugned disallowance, but however fails to rebut the above legal proposition as per h .....

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..... ssessment year 2012-13, arises against the CIT(A)-10, Ahmedabad s order dated 05.05.2015, in case no. CIT(A)- 10/ACIT Cir1(3)/734/2014-15, upholding Assessing Officer s action making Section 14A r.w. Rule 8D (2)(ii) proportionate interest of Rs. 2,41,462/- and clause (iii) administrative expenditure disallowance @ .5% of the average value of investments amounting to Rs. 61,101/-; coming to Rs. 3,0 .....

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..... tire exempt income amount (supra) as per hon ble Delhi high court s judgment (2015) 372 ITR 694 (Del) Joint Investments Pvt. Ltd. vs. CIT. Mr. Kabra on the other hand strongly supports both the lower authorities action invoking the impugned disallowance. He however fails to rebut the above legal proposition as per hon ble Delhi high court s recent decision. We therefore partly accept assessee s g .....

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