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TMI Blog2025 (3) TMI 447X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Ld. AO under Section 14A of the Act. The Ld. Counsel for the assessee argued that the impugned addition made invoking provisions of Rule 8D (2)(iii) is against the tenets of establish law as no satisfaction has been drawn before making the impugned addition. The Ld. Counsel argued that the confirmation of the impugned addition by the Ld. CIT(A) is also based upon a presumption. Request was accordingly made to delete this addition. The Ld. DR would like to rely upon the order of the lower authorities. 3. We have heard rival submissions, in the light of material available on record. Section 14A r.w. Rule 8D(2)(iii) casts a responsibility upon the AO to draw his satisfaction which has provoked him to invoke impugned provisions. We hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... impugned addition. The Ld. CIT(A) confirmed the addition, in view of decision of Hon'ble jurisdictional High Court dated 27.07.2011, in assessee's own case. The Ld. Counsel for the assessee urged that it is in appeal before Hon'ble Apex Court against the said decision. Nothing has been brought on record to indicate the order of Hon'ble Delhi High Court has been stayed. The Ld. DR placed total reliance upon the decision of Hon'ble jurisdictional High Court dated 27.07.2011. 6. We have heard rival submission in the light of material available on record. In respectful compliance to the decision of Hon'ble jurisdictional High Court dated 27.07.2011(supra), we are of the view that there is no case for any intervention in the decision of Ld. CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rposes of limited verification and decide the issue in accordance with law. It shall be bounden upon the Ld. AO to provide due opportunity of being heard to the assessee and the assessee shall comply with all the statutory notices. The grounds of appeal raised by the assessee on this issue, is allowed for statistical purposes. 9. The next issue raised by the assessee is regarding an addition of Rs. 22,60,059/- on account of treatment of alleged dividend income as interest income. The Ld. Counsel submitted that the Ld. AO had misdirected himself by treating the impugned exempt dividend income as interest income. The Ld. AO has observed in the order that the action of the assessee is erroneous as no case of any exempt dividend income is made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re was disallowed by the Ld. AO. The Ld. Counsel for the assessee reiterated his arguments about the genuineness and business expediency of the impugned expenses. 12. The Ld. DR submitted that there is no case for justification of claims. Nobody can claim expenses for services rendered to himself. It was argued that the assessee became the Director of the impugned company subsequently. We have noted that the case of the assessee rest upon very weak arguments. The conclusion drawn by lower authorities on the basis of material available on record, cannot be faulted. Accordingly, we are of the view that there is no case for any intervention to the order of Ld. CIT(A). The grounds of appeal raised by the assessee, is therefore dismissed. 13. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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