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TMI Blog2014 (5) TMI 1072X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Respondent: Shri. A.S. Sriraman, Advocate O R D E R PER VIKAS AWASTHY, JUDICIAL MEMBER The appeal has been filed by the Revenue assailing the order of the Commissioner of Income Tax (Appeals)-II, Coimbatore, dated 01.11.2012 relevant to the assessment year 2007-08. The appeal is directed against deletion of disallowance u/s.40(a)(i) for non deduction of tax at source on the comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee preferred an appeal before the Commissioner of Income Tax (Appeals). 3. The Commissioner of Income Tax (Appeals) vide impugned order deleted the disallowance made by the Assessing Officer and allowed the appeal of the assessee. Now, the Revenue has come in appeal assailing the findings of the Commissioner of Income Tax (Appeals). 4. Shri Shaji P. Jacob, representing the department reiterate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d only procured export orders. The commission was paid by the assessee on various dates through banking channels for the services rendered outside India. The Commission has been remitted in foreign currency outside India. The findings of the Commissioner of Income Tax (Appeals) on the issue remain unrebutted. The Hon'ble Supreme Court in the case of GE India Technology Vs. CIT reported as 327 ITR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 09 onwards. Thus, the provision of Rule 8D cannot be applied in the assessment year under appeal i.e. 2007-08. However, reasonable disallowance has to be made for earning tax free income. The assessee has made additional investment of F1.33 Crores during the relevant financial year. Even if the investment is made from own funds, the assessee must have been spending some amount in managing its inve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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