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TMI Blog2014 (2) TMI 1245X X X X Extracts X X X X X X X X Extracts X X X X ..... nt : MR MR BHATT And MRS MAUNA M BHATT ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. The assessee is in appeal against the judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) raising following question for our consideration:- "Whether on the facts and in the circumstances of the case, the Tribunal was right in law in not deciding the matter when all the facts are t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal ought not to have remanded the proceedings and no disallowance could have been made under section 14A of the Act, in view of the material on record. 3. He pointed out that earlier the authorities had applied rule 8D, which was previously approved by the Bombay Tribunal in case of Income Tax Officer vs. Daga Capital Management Pvt. Ltd. reported in [2009] 312 ITR(AT) 1 (Mumbai), whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction of said rule. Nevertheless and more so, therefore, a need would arise to ascertain the disallowance of expenditure, if any, and if so, to what extent be made for the assessee to earn tax exempt income. Since this exercise was not done previously, the Tribunal was within its right to require the Assessing Officer to do so. It is true that in a given case the Tribunal could also either on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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