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TMI Blog2016 (1) TMI 1095X X X X Extracts X X X X X X X X Extracts X X X X ..... the Co-ordinate Bench of the Tribunal passed in the assessee's own case relating to assessment year 2006-07 [2015 (11) TMI 1277 - ITAT MUMBAI ] - Decided against the assessee Disallowance of claim of loss on account of re-valuation of securities - Held that:- Loss on arising on re-valuation of securities is required to be allowed as decided in the assessee's own case relating to assessment year 2006-07 [2015 (1) TMI 1012 - ITAT MUMBAI ] - Decided against revenue - ITA No. 3357/Mum/2013, ITA No. 3388/Mum/2013 - - - Dated:- 1-1-2016 - B. R. Baskaran, AM And Amarjit Singh, JM For the Appellants : Shri Yogesh Thar Yogesh Jain For the Respondent : Shri K Krishna Murty ORDER Per B R Baskaran, AM These cross appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of CIT V/s HDFC BANK LTD. [2014] 366 ITR 505 (Bom). However, the fund position of the assessee is required to be examined at the end of the AO. Accordingly, we set aside the order of Ld CIT(A) on this issue and restore the same to the file of the AO with the direction to examine this issue by following the ratio rendered in the case of HDFC Bank Ltd (supra) and also any other decision that may be relied upon by the assessee and take appropriate decision in accordance with the law. 5. With regard to the expenditure which requires to be disallowed under Rule 8D (2)(iii), the ld.AR submitted that there is no requirement to make any disallowance during the year under consideration, since the assessee has not received any exempt income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d disallowance was deleted by the ld. CIT(A) by following the decision rendered by him on identical issue in the assessment year 2006-07. The ld.AR pointed out that the co-ordinate Bench of the Tribunal has considered an identical issue in the assessment year 2006-07 in ITA No.5833/Mum/2012 and the decision of the ld. CIT(A) has been upheld by the Tribunal. 9. We have gone through the order dated 21.1.2015 passed by the Co-ordinate Bench of the Tribunal in assessee's own case for the assessment year 2006-07 passed in ITA No.5833/Mum/2012 and we notice that the Tribunal has followed the following decisions and held that loss on arising on re-valuation of securities is required to be allowed : a) United Commercial Bank V/s CIT (240 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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