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TMI Blog2025 (3) TMI 1080X X X X Extracts X X X X X X X X Extracts X X X X ..... are international transactions and accordingly, ground no. 2 raised by the assessee is dismissed. As relying on [2023 (2) TMI 523 - ITAT KOLKATA]in assessee's own case, wherein the Arm's Length Price corporate guarantee fee has been restricted to 0.5%. Addition u/s 14A r.w.s Rule 8D of the Rules - assessee has suo moto disallowed as expenses u/s 14A relating to earning of exempt income - HELD THAT:- CIT (A) deleted the addition by following the decision [2023 (2) TMI 523 - ITAT KOLKATA] as most of the investments held by the assessee are brought forward from preceding year and also the major portion of the investment is in the sister/group concerns of the assessee and thus, reverse the finding of ld. CIT(A) and delete the disallowance ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 vide order dated 13th February, 2023 in assessee's own case, wherein the Arm's Length Price corporate guarantee fee has been restricted to 0.5%. 06. After hearing the rival contentions and perusing the materials available on record, we find that the ld. CIT (A) has already followed the decision of the co-ordinate Bench and restricted the Arm's Length Price of corporate guarantee fee at 0.5% by following the above decision of the co-ordinate Bench in assessee's own case. Therefore, we do not find any merit in the ground o. 3 raised by the assessee and accordingly, same is dismissed. 07. The appeal of the assessee is dismissed. ITA No.:748/KOL/2023 08. The ground raised by the assessee from 1 to 3 are similar to ones as decided in ITA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . AO applied rule 8D of the Rules and computed the disallowance at Rs. 2,06,26,565/- and after making an allowance for the suo moto disallowance, a net addition of Rs. 1,80,74,565/- was made. The ld. CIT (A) deleted the addition by following the decision of the co-ordinate bench in ITA No. 1854/KOL/2016 (supra). The relevant part of the decision is extracted below:- "16. Now, we are taking the next common issue relating to disallowance u/s 14A of the Act raised commonly in ground no. 3 for AY 2012-13 & AY 2013-14. We observe that the assessee suo moto made a disallowance of Rs. 46,72,000/- & Rs. 58,78,000/- u/s 14A of the Act towards expenditure related to exempt income. Ld. AO examined the quantification of the said disallowance but was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue is dismissed. ITA No.:506/KOL/2024 014. At the outset, we observe on the basis of records before us that the appeal filed by the Revenue in ITA No. 506/KOL/2024 is barred by limitation by of 216 days, for which the condonation petition was made. We observe from the said condonation petition that the reasons cited for delay in filing the appeal were on account of taking administrative and hierarchial approvals at various stages, which caused the delay in filing the appeal. Since, we find the reasons to be genuine and bonafide, we hereby condone the delay in filing the appeal and admit the same for adjudication. 015. The only issue raised is against the deletion of disallowance as made by the ld. AO u/s 14 read with Rule 8D of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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