State Commission, the Appellant has preferred the present appeal
on the following issues:
a) The State Commission has disallowed a Return on Equity ... application of mind by the
State Commission on the issue of depreciation?
c) Whether the State Commission in disallowing short-term power
purchase, acted
giving credit of Rs.22997000/-
already disallowed by the appellant.
2. That the disallowance confirmed by the CIT(A)-II u/s
14A / Rule ... 20203796
Total Rs.47947657
Less: Already disallowed Rs.22997000
Balance disallowance Rs.24950657
3.That the learned CIT(A)-II has failed to
appreciate
Mangalam Cement Ltd., Kota.
Expenses Disallowance of
disallowed by the the expenses
AO confirmed by CIT
(A)
Particulars Amount % Amount % Amount
of Claimed
Expenses
Staff ... confirming the
disallowance out of various expenses as under:-
Expenses Disallowance of
disallowed by the expense
AO confirmed by
CIT(A)
Particulars Amount % Amount Amount
appeal before the ld. CIT(A), the ld CIT(A) directed the AO to
restrict the disallowance on reasonable basis in view of the decision ... making disallowance has not recorded objective satisfaction before making
disallowance. The assessee has own sufficient funds available with it and no
interest disallowance was warranted
disallowance on proportionate basis as per actual sales effected during
the year. The disallowance made by AO was upheld by the CIT ... CIT DR supported the order of AO & CIT(A) and argued that
AO and CIT(A) have considered the disallowance on the basis
allowed as revenue
expenditure. The Assessing Officer and the CIT(A) disallowed the same being
speculation loss.
33. The learned Authorized Representative for the assessee ... were actually made and consequently, we uphold
the order of CIT(A) in disallowing of Rs.18,85,000/-. The CIT(A) had not
disallowed
before the CIT(A). We find that the
CIT(A) observed that the plea of the assessee before him was that the
disallowance contemplated under ... CIT(A). The ld. A.R submitted that the CIT(A) while recasting the
amount liable for disallowance under Sec.14A , thus, wrongly made
income of Rs.43,20,960/- after making the following
disallowance:-
1. Disallowance of commission Rs.41,39,131/-
2. Disallowance of penalty ... Asst.Year - 2011-12
- 10 -
Disallowance of Penalty 2,900/-
Total 41,42,031/-
(2) The disallowance of commission expenses is being contested in
appeal
CIT(Appeals) while passing
the order for AY 2005-06 and following the said order, the CIT(A) has
confirmed disallowance in the instant case ... order of CIT(A) for AY 2005-06, the CIT(A) has restored
the matter to the AO to recompute the disallowance of interest
CIT(A) to prove that any kind of services were rendered by the
commission agents to whom commission was paid."
4. On the facts ... inland travel. The Ld. assessing officer disallowed 25% of such
expenses. The above disallowances deleted by the Ld. CIT(A) by relying
