2013 (11) TMI 1490

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..... vocate. ORDER C.M.No.15148/2013 Delay in refiling is condoned. ITA 468/2013 This appeal by the Revenue, which pertains to Assessment Year 2007- 08, has to be dismissed for two reasons. Firstly, it has been held that Rule 8D is not retrospective and, therefore, will not apply to the assessment year in question as per decision of the Delhi High Court in Maxopp Investment Limited versus Commiss .....

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..... ome to Rs.1,66,57,982/-. The disallowance made by the respondent assessee was Rs.1,73,98,255/-. Therefore by applying Rule 8D, the total disallowance would be reduced to Rs.1,66,57,982/-, which would be against the interest of revenue. In spite of the said factual position, Revenue preferred an appeal before the tribunal but has not succeeded. Aggrieved, they have preferred this appeal. In view .....

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