9911796707
TMI Blog2019 (3) TMI 286X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/2016-17 even dated 19.12.2017. The Assessments were framed by the Asst. Commissioner of Income Tax, Circle-1(1)(1), Mumbai (in short 'ACIT/ITO/ AO') for the A.Ys. 2013-14, 2014-15 vide order dated 14.12.2016 under section 143(3) of the Income Tax Act, 1961 (hereinafter 'the Act'). 2. The only common issue in these four appeals of three different assessee is as regards to the order of CIT(A) confirming the disallowance made by the AO in respect of expenses relatable to exempt income by invoking the provisions of section 14A of the Act read with Rule 8D of the Income Tax Rules, 1962 (hereinafter the 'Rules'). For this assessee has raised following two grounds which are common in all the four appeals. The facts and circumstances are exactly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8D(2)(iii) at Rs. 3023/-. But according to the AO, the assessee has incurred expenses for earning of this exempt income and then he invoked the Rule 8D(2)(iii) and made disallowance of Rs. 3,29,903/- apart from already disallowed by the assessee suo motto of Rs. 3023/-. Aggrieved, assessee preferred the appeal before CIT(A). The CIT(A) confirmed the disallowance vide Para 6.2.5 as under:- Aggrieved, assessee came in second appeal before Tribunal. 6. Before us, the learned Counsel for the assessee stated that the issue is squarely covered by the Tribunal's decision in assessee's sister concern case (in the case of Allana Cold Storage Private Limited) in ITA No 2366 & 2377/Mum/2015 for AY 2010-11 & 2011-12 vide order dated 20.12.2017, where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R." When a query was put to the learned Sr. Departmental Representative, he simply relied on the assessment order. 7. After considering the rival submissions and going through the facts of the case, we find that in all these appeals facts and circumstances are exactly identical. Hence, we also direct the AO to consider the investments which are giving exempt income for the purpose of computing disallowance under Rule 8D(2)(iii). Accordingly, all these appeals are partly allowed for statistical purposes in view of the above directions. 8. Similar are the facts in ITAs No. 922,924 & 926/Mum/2018 for AY 2014-15, 2013-14 & 2014-15 respectively, hence, the same are also partly allowed for statistical purposes in view of the above directions. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
