9911796707
TMI Blog2015 (2) TMI 1302X X X X Extracts X X X X X X X X Extracts X X X X ..... The present assessment year being assessment year 2007-08, the provisions of Rule 8D shall not be applicable as held in the case of Godrej Boyce Mfg. Co. Ltd [2010 (8) TMI 77 - BOMBAY HIGH COURT]. In the above said decision, also held that for the year under consideration, the disallowance has to be computed in a reasonable manner. Hence, we are of the view that this issue requires fresh considera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Accordingly, we allow Misc. Application filed by the assessee. 4. With the consent of both the parties, the ground no.2 urged in AY 2007-08 was taken up for hearing. 5. The Ground No.2 reads as under : "On the facts and in the circumstances of the case and in law, the Hon'ble CIT(A) erred in confirming the disallowance made by the ld. AO of ₹ 3,67,258/- u/s 14A read with Rule 8D of the I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nner. Hence, we are of the view that this issue requires fresh consideration 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 a direction to compute the disallowance u/s 14A of the Act in a reasonable manner as held by the Hon'ble Bombay High Court in the case of Godrej Boyce Mfg. Co. Ltd (supra). 7. In the result ..... X X X X Extracts X X X X X X X X Extracts X X X X
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