Income Tax Appellate Tribunal - Mumbai
Shreyas Morkhia & Family Assets P.Ltd, ... vs Dcit 8(2)(1), Mumbai on 4 December, 2018
'G ', मुंबई ।
आयकर अपील य अ धकरण, मुंबई यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES "G", MUMBAI Before Shri B.R.Baskaran, AM and Shri Amarjit Singh, JM ITA No.3182/Mum/2017 : Asst.Year 2013-2014 M/s.Shreyas Morakhia & Family Assets The Dy.Commissioner of Income-tax Private Limited (Formerly known as बनाम/ Circle 8(2)(1) Shiva Shakti Properties Pvt.Ltd.) Vs. Mumbai. 706, Raheja Journal Marg 214, Nariman Point, Mumbai-400 021.
PAN : AAFCS8009P.
(अपीलाथ /Appellant) ( यथ /Respondent)
अपीलाथ क ओर से /Appellant by : --- None ---
यथ क ओर से /Respondent by : Shri Chaudhary Arunkumar Singh ु वाई क तार ख / सन घोषणा क तार ख / Date of Hearing : 04.12.2018 Date of Pronouncement : 04.12.2018 आदे श / O R D E R Per B.R.Baskaran (AM) :
The appeal filed by the assessee is directed against the order dated 28.02.2017 passed by the learned CIT(A)-14, Mumbai and it relates to Asst.Year 2013-2014.
2. The assessee is aggrieved by the decision of the learned CIT(A) in partially confirming the disallowance made u/s 14A of the Act under normal provisions of the Act and also while computing the book profit u/s 115JB of the Act. None appeared on behalf of the assessee, even though the hearing was adjourned on the last occasion at the specific request of the assessee. Hence, we proceed to dispose of the appeal ex parte, without the presence of the assessee.
2 ITA No.3182/Mum/2017.M/s.Shreyas Morakhia & Family Assets Pvt.Ltd.
3. We heard the learned Departmental Representative and perused the record. The assessee is engaged in the business of making investments and lending. During the year under consideration, the assessee earned tax free interest and dividend income of Rs.658.57 lakh. The assessee disallowed a sum of Rs.71,806 only u/s 14A of the Act. The A.O. did not agree with the working given by the assessee and accordingly computed the disallowance u/s 14A of the Act at Rs.43.53 lakh. Accordingly he made addition of Rs.42.81 lakh to the total income of the assessee. The learned CIT(A) accepted the submission of the assessee that there is some computational error in the workings made by the A.O. and accordingly directed the A.O. to correct the errors. Accordingly he allowed the appeal of the assessee in part. Aggrieved by the order passed by the learned CIT(A), the assessee has filed this appeal before us.
4. We have gone through the order passed by the learned CIT(A). We noticed that the assessee has not furnished any material to contradict the findings given by the learned CIT(A). Under these set of facts, we have no other option but to confirm the order passed by the learned CIT(A).
5. In the result, the appeal filed by the assessee is dismissed.
Order has been pronounced in the Court on 04.12.2018 Sd/- Sd/-
(Amarjit Singh) (B.R.Baskaran)
या यक सद!य / JUDICIAL MEMBER लेखा सद!य / ACCOUNTANT MEMBER
मुंबई Mumbai; दनांक Dated : 04th December, 2018. Devdas* 3 ITA No.3182/Mum/2017. M/s.Shreyas Morakhia & Family Assets Pvt.Ltd.
आदे श क # त%ल&प अ'े&षत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2. यथ / The Respondent.
3. आयकर आय"
ु त(अपील) / The CIT, Mumbai.
4. आयकर आयु"त / CIT(A)-14, Mumbai
5. %वभागीय (त(न)ध, आयकर अपील य अ)धकरण, मुंबई / DR, ITAT, Mumbai
6. गाड- फाईल / Guard file.
आदे शानस ु ार/ BY ORDER, स या%पत (त //True Copy// उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील य अ धकरण, मंब ु ई / ITAT, Mumbai