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TMI Blog2014 (2) TMI 1032X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner of Income Tax and Anr. [2010 (8) TMI 77 - BOMBAY HIGH COURT] - The provisions of rule 8D of the Income Tax Rules which have been notified with effect from March 24, 2008, shall apply with effect from the assessment year 2008-09 – the Assessing Officer is duty bound to determine the expenditure which has been incurred in relation to income which does not form part of the total income under the Act - the department must be deemed to have accepted the position that Rule 8D is only prospective in nature - the department has to have some consistency in its views and it cannot blow hot and cold at its sweet-will – Decided in favour of Assessee. - ITA No. 282 of 2009 With WP No. 412 of 2010 - - - Dated:- 7-2-2014 - Girish Chandra Gup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the Learned Tribunal was justified in remanding for rendering fresh decision after having decided the matter by the Tribunal previously with regard to the claim of the assessee relating to proportionate deduction of compensation paid in connection with the mining activity for obtaining raw material limestone to the assessing officer ? At the very outset, Mr. Bajoria, learned Senior Advocate appearing for the appellant, submitted that he has instruction not to press the sole question relating to the assessment years 2003-04 and 2005-06. Therefore, that question goes out of the arena of consideration and the learned Tribunal s order in respect thereof is confirmed. With regard to the assessment years 2001-02, 2004-05 and 2005-06, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, be said to be retrospective in nature. He drew our attention to the views expressed by the Bombay High Court in the case of Godrej and Boyce Mfg. Co. Ltd. Vs. Deputy Commissioner of Income Tax and Anr., reported in 328 ITR 81, wherein the Division Bench took the following views : (v) The provisions of rule 8D of the Income Tax Rules which have been notified with effect from March 24, 2008, shall apply with effect from the assessment year 2008-09 ; (vi) Even prior to the assessment year 2008-09, when rule 8D was not applicable, the Assessing Officer has to enforce the provisions of sub-section (1) of Section 14A. For that purpose, the Assessing Officer is duty bound to determine the expenditure which has been incurred in relation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uty CIT [2010] 328 ITR 81 (Bom), wherein it has, inter alia, been held that the provisions of rule 8D of the said Rules has prospective effect and shall apply with effect from the assessment year 2008-09 onwards. Mr. Bajoria also drew our attention to a judgment delivered by the selfsame Appellate Tribunal in respect of the self-same assessee for the assessment year 2006-07 wherein the self-same Tribunal followed the views expressed by the Bombay High Court in the case of Godrej and Boyce Mfg. Co. Ltd. In other words, the Tribunal took the view that Rule 8D was not retrospective in nature. The Tribunal in that case also held that disallowance of 1% of the dividend income would be a reasonable amount to be taken into account. Mr. Bajo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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