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TMI Blog2014 (3) TMI 286X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the order of the Ld.CIT(A) -24, Mumbai dated 28.10.2010 for the Assessment Year 2007-08. 2. At the outset, it is noted that there is a delay of 44 days in filing the appeal. The assessee has filed a petition of condonation of delay in the shape of an affidavit. The assessee has explained the reasons for not filing the appeal within the time period of limitation as he fell ill and was sufferi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under hand way. When it is found on record that the party has not acted in mala fide but the reasons explained are factually correct, then the court should be liberal in construing the sufficient cause and should lean in favour of such party. Whenever substantial justice and technical consideration are opposed to each other, cause of substantial justice has to be preferred. In view of this legal a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e disallowance in consonance with the decision of the Hon'ble Bombay High Court in the case of Godrej & Boyce Company Ltd. Aggrieved by the impugned order, the assessee is in appeal before us. 4. Having heard both the sides and perused the material on record, it is a fact that the relevant assessment year 2007-08 under consideration is outside the scope of provisions of Rule 8D. The said prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has disallowed the expenditure only to the extent of 2% of the total exempt income earned by the respondent-assessee on the basis its order dated 27.2.2009 for the assessment year 2002-2003 and order dated 10.9.2009 for the Assessment Years 2003-2004 and 2004-2005 wherein disallowance was restricted to 2% of the exempt income. Further; the Tribunal has remanded the matter to the AO to verify the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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