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TMI Blog2019 (4) TMI 1511X X X X Extracts X X X X X X X X Extracts X X X X ..... REME COURT]. Secondly, this issue has already been adjudicated by the Tribunal in assessee s own case for AY 2013-14. Therefore, no infirmity could be found in the impugned order so far as the disallowance of interest expenditure u/r 8D(2)(ii) is concerned. Disallowance of Section 14A while computing Book Profits u/s. 115JB has been deleted by Ld. first appellate authority by placing reliance on the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [ 2017 (6) TMI 1124 - ITAT DELHI] . No contrary decision has also been placed on record by the revenue. There is nothing on record which suggest that the assessee has debited any actual expenditure in the Profit Loss Account and secondly, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g in mind the investment of Bank and hence Bank specific? 3. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in directing AO not to add the disallowance u/s 14A to the book profit u/s 115JB while computing the total income of the appellant relying on the decision of the Special Bench of ITAT Delhi in the case of Vireet Investment Pvt Ltd (82 taxmann.Com 415) overlooking the fact that the AO had correctly made the computation as per clause (f) in explanation 1 to section 115JB(2) of the Act which mandates disallowance of expenditure relatable to the income to which section 10 or section 11 or section 12 of the Act applies? As evident from grounds of appeal, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lowance u/r 8D(2)(ii) in view of the fact that assessee s own funds were more than the investments and therefore, no disallowance was required in terms of judgment of Hon ble Bombay High Court rendered in CIT vs. HDFC Bank Ltd. (2014 366 ITR 505) . The adjustment of disallowance u/s 14A while computing Book Profits u/s. 115JB was deleted by placing reliance on the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. Aggrieved, the revenue is in further appeal before us. 4. The Ld. Authorised Representative [AR], at the outset, drew our attention to the fact that identical issue arose in assessee s favor for AY 2013-14 and the revenue agitated the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reason to interfere with the judgment of the High Court in regard to the first question. Accordingly, the appeals are dismissed in regard to the first question. Secondly, this issue has already been adjudicated by the Tribunal in assessee s own case for AY 2013-14. Therefore, no infirmity could be found in the impugned order so far as the disallowance of interest expenditure u/r 8D(2)(ii) is concerned. 6. The addition of disallowance of Section 14A while computing Book Profits u/s. 115JB has been deleted by Ld. first appellate authority by placing reliance on the decision of Delhi Tribunal (Special Bench) rendered in ACIT Vs. Vireet Investment (P.) Ltd. [82 Taxmann.com 415]. No contrary decision has also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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