ITA No. 4890/Del/2024 Vinay Dua (A.Y. 2018-19)
Case No: ITA No. 4890/Del/2024
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘E’: NEW DELHI
Date: 6/25/2025
Parties Involved
appellantVinay Dua
respondentAssessing Officer, National e-Assessment Centre, Delhi
Facts Summary
The assessee, Vinay Dua, proprietor of M/s Gemini Industrial Corporation, filed a return of income for A.Y. 2018-19 declaring a total income of Rs 6,38,61,730/-. The case was selected for scrutiny, and statutory notices were issued. During the assessment proceedings, the Assessing Officer (AO) noticed that the assessee had earned exempt dividend income of Rs.1,60,783/- and interest on PPF of Rs.4,32,031/-, totaling Rs.5,92,814/-. The AO calculated a disallowance under Section 14A of Rs. 1,82,260…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of Rs. 1,82,260/- under Section 14A read with Rule 8D is justified.
- 2. Whether the disallowance of Diwali expenses of Rs. 90,698/- is justified.
Precedents Relied Upon
4 precedents cited in this judgement.