Prima (P) Ltd. v. Asstt. CIT - Taxpublishers.in

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The Tax PublishersITA No. 360/Pun/2018 2021 TaxPub(DT) 2760 (Pune-Trib) IN THE ITAT, PUNE BENCH INTURI RAMA RAO, A.M. & PARTHA SARATHI CHAUDHURY, J.M. Prima (P) Ltd. v. Asstt. CIT ITA No. 360/Pun/2018 20 May, 2021 Assessee by: Sharad Shah Revenue by: Vitthal Bhosale ORDER *Partha Sarathi Chaudhury, J.M.* This appeal preferred by the assessee emanates from the order of the learned Commissioner (Appeals)-6, Pune dated 7-12-2017 for the assessment year 2013-14 as per the following grounds of appeal on record :-- 1. The learned assessing officer erred in (& Commissioner (Appeals) erred in confirming) making the disallowance under section 14A amounting to Rs. 19,31,965. 1.1. The learned assessing officer erred in (& learned Commissioner (Appeals) erred in confirming) in not considering the fact that the assessee has huge internal accruals and interest free funds and therefore, no disallowance under section 14A is warranted w.r.t. interest expenses. SUBSCRIBE FOR FULL CONTENT

The Tax PublishersITA No. 360/Pun/2018
2021 TaxPub(DT) 2760 (Pune-Trib)

IN THE ITAT, PUNE BENCH

INTURI RAMA RAO, A.M. & PARTHA SARATHI CHAUDHURY, J.M.

Prima (P) Ltd. v. Asstt. CIT

ITA No. 360/Pun/2018

20 May, 2021

Assessee by: Sharad Shah

Revenue by: Vitthal Bhosale

ORDER

Partha Sarathi Chaudhury, J.M.

This appeal preferred by the assessee emanates from the order of the learned Commissioner (Appeals)-6, Pune dated 7-12-2017 for the assessment year 2013-14 as per the following grounds of appeal on record :--

1. The learned assessing officer erred in (& Commissioner (Appeals) erred in confirming) making the disallowance under section 14A amounting to Rs. 19,31,965.

1.1. The learned assessing officer erred in (& learned Commissioner (Appeals) erred in confirming) in not considering the fact that the assessee has huge internal accruals and interest free funds and therefore, no disallowance under section 14A is warranted w.r.t. interest expenses.