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TMI Blog2017 (8) TMI 410X X X X Extracts X X X X X X X X Extracts X X X X ..... he Assessing Officer to allow the said expenditure as revenue expenditure. Thus, on this aspect assessee succeeds. - ITA No.5210/Mum/2013 And C.O.NO.248/Mum/2014 - - - Dated:- 23-6-2017 - SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER For The Appellant : Dr.A.K.Nayak For The Respondent : Shri Prakash Jotwani ORDER PER G.S.PANNU,A.M: The captioned appeal by the Revenue and cross objection by the assessee pertaining to the assessment year 2011-12 are directed against order passed by the CIT(A)-18, Mumbai dated 10/05/2013, which in turn, arises out of order passed by the Assessing Officer under section 143(3) of the Income Tax Act, 1961 (in short the Act ) dated 08/02/2013. 2. One ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Objection filed, assessee has raised an additional Ground further assailing the determination of disallowance under section 14A of the Act at ₹ 32,03,556/-. 3.1 In the above background rival Counsels have been heard. At the time of hearing, it was a common point between the parties that so far as the tax effect involved in the dispute raised by the Revenue is concerned, the same is below the limit prescribed by the CBDT. The CBDT vide Circular No.21/2015 dated 10/12/2015 has revised the monetary limits for filing of appeals by the Department before the Tribunal retrospectively. Since the tax effect in dispute in the captioned appeal is stated to be below the monetary limit of ₹ 10.00 lacs specified in the CBDT Circular date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elf for assessment year 2008-09, wherein vide order in ITA No.2041/Mum/2014 dated 12/04/2016 such proposition has been upheld and the Assessing Officer has been directed to exclude the amount of strategic investment for working out the value of average investments for the purposes of Rule 8D(2)(iii) of the Rules. The Ld.Representative for the assessee conceded that the said aspect of the matter is a fresh plea and was not hitherto raised before the lower authorities, but since the relevant facts with regard to the issue are available on record and it is supported by the decision of the Tribunal, the same be admitted for adjudication. The Ld.Representative for the assessee also pointed out that assessee would have no objection if the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ention, the Assessing Officer shall allow the assessee a reasonable opportunity of being heard and thereafter pass a fresh order as per law. Thus, on this aspect assessee succeeds for statistical purposes. 9. In its Cross Objection, assessee has raised another additional fresh plea, which for claim of deduction under section 80-IA(4) (iv)(a) of the Act in respect of profits derived from its undertaking set up in Sangli, Maharashtra for the generation of Wind Mill Power. The said claim was hitherto not made either before the Assessing Officer or even before the CIT(A). At the time of hearing, Ld.Representative for the assessee pointed out that the said undertaking was set up in the previous year relevant to the assessment year 2006-07, bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t to a disallowance of ₹ 5,13,382/- made by the Assessing Officer out of expenditure claimed by the assessee being incurred for current repairs of its Hotel at Shirdi as capital expenditure. 12. In this context, the relevant facts are that the Assessing Officer disallowed the expenditure holding that it was incurred on account for acquiring Centrifugal Blower 15 HP Motor for kitchen exhaust system. The claim of the assessee was that the expenditure was in the nature of repairs and that there was no independent new asset acquired and, therefore, it was allowable as a revenue expenditure. The CIT(A) has also upheld the stand of the Assessing Officer, against which assessee is in appeal before us. 13. Before us, the Ld. Represent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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