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TMI Blog2019 (9) TMI 1722X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal is filed against the order dated 29.07.2016 passed by CIT(A)- 30, New Delhi for Assessment Year 2012-13. 2. The grounds of appeal are as under : 1. "Ld. CIT(A) erred in law and on facts of the case in deleting the disallowance of Rs.2,79,11,315/- made by AO on account of bank interest expenses. " 2. "Ld. CIT(A) erred in law and on facts of the case in deleting the disallowance o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Disallowance of interest paid on loan :Rs.2,79,11,315/- ii) Disallowance of legal & professional charges :Rs. 61,87,589/- iii) Disallowance of warehouse & demurrage charges:Rs. 27,67,483/- 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT(A) partly allowed the appeal of the assessee. 5. The Ld. DR submitted that as regards to ground no. 1, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee before the CIT(A) as submissions before us. 7. We have heard the Ld. DR and perused all the relevant material available on record. As regards to Ground No. 1, from the perusal of the records it can be seen that the loan procured was utilized by the assessee wholly and exclusively for its business as per clause 14 of the arrangement between third party contract bottling units (CBUs). T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the year there was no business activity, but during the said period the assessee incurred expenses on the maintenance of its business establishment. During the said year, the Assessing Officer has not pointed out any bogus or expenditure of personal nature, which will warrant any disallowance. The CIT(A) rightly held that by simply mentioning that the expenditures are not commensurate with the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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