Case Law Details
Ambuja Housing & Urban Infrastructure Co. Ltd Vs DCIT (ITAT Kolkata)
It appears that while invoking Rule 8D of the I.T Rules, 1962 the AO has not pointed out/identified any specific infirmity in the disallowance so offered by the appellant/ assessee. A single sentence ‘explanation of the assessee was considered, but not acceptable’ has been made instead of giving specific reason for such non acceptance. It is evident from the records particularly the order passed by the Ld. AO that without recording satisfaction about the correctness of the claim of assessee u/s. 10(34) of the Act, the Ld. AO has made the quantum of disallowance by invoking the Rule 8D of the Income-tax Rules, 1962. The accounts of the assessee has been examined, in absence of which the order of disallowances by Ld.AO is not sustainable.
FULL TEXT OF THE ITAT JUDGEMENT
Both the appeals filed by the assessee are directed against the separate orders both dated 29-08-2019 passed by the Ld. CIT(A)-4, Kolkata arising out of separate assessment order both dated 26-12-2016 passed by the DCIT, Circle-11(1), Kolkata u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as “ the Act”) for the Assessment Years 2013-14 and 2014-15 respectively. Since both the appeals relate to the same assessee, these (appeals) are disposed of by a common order.
ITA No. 2371/Kol/2019 A.Y 2013-14
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