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TMI Blog2019 (8) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... evenue or capital receipt - HELD THAT:- Assessee submitted that the issue relating to carbon credit income has been decided by Hon ble Karnataka High Court in case of Subash Kabini Power Corporation Ltd [ 2016 (5) TMI 793 - KARNATAKA HIGH COURT] in favour of assessee. Disallowance u/s 14A read with Rule 8D (iii) - CIT (A) held disallowance to be justified for assessment year 2009-10 and 2011-12, whereas he deleted disallowance computed under rule 8D(iii), as there was no exempt income following decision of Hon ble Delhi High Court in case of M/s Cheminvest Ltd [ 2015 (9) TMI 238 - DELHI HIGH COURT] . No infirmity in the aforestated observations of Ld. CIT (A) and accordingly the same is upheld. - ITA Nos.1224 TO 1227(Bang)/2018 - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. The appellant craves leave to add, to alter, to amend or delete any of the grounds that may be urged at the time of hearing of appeal. ITA No.1225/Bang/2018(AY: 2011-12) 1. The order of the Learned CIT (Appeals), in so far as it is prejudicial to the interest of revenue, is opposed to law and the facts and circumstances of the case. 2. The Ld. CIT (A) erred in allowing the assessee's appeal on the issue of disallowance made u/s 14A r. w. Rule 8D as the said matter has not reached finality due to pendency of SLP before the Hon'ble Apex Court against the decision of Hon'ble High Court of Delhi in the case of M/s Cheminvest Ltd (378 ITR 33 (Del)). 3. On the facts and in circumstances of the case and in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d at the time of hearing, it is humbly prayed that the order of the Ld. CIT (A) be reversed and that of the Assessing Officer be restored. 5. The appellant craves leave to add, to alter, to amend or delete any of the grounds that may be urged at the time of hearing of appeal. ITA No.1227/Bang/2018 (AY: 2013-14) 1.The order of the Learned CIT (Appeals), in so far as it is prejudicial to the interest of revenue, is opposed to law and the facts and circumstances of the case. 2.The Ld. CIT (A) erred in allowing the assessee's appeal on the issue of disallowance made u/s 14A r. w. Rule 8D as the said matter has not reached finality due to pendency of SLP before the Hon'ble Apex Court against the decision of Hon' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been raised by revenue is in respect of disallowance under section 14 A read with Rule 8D (2) (ii) and (iii) of rules. Admittedly, assessee has earned exempt income for assessment year 2009-10, 2012-13. For assessment years 2011-12 and 2013-14 there has been no exempt income earned by assessee. It is observed that, Ld.CIT (A) while deciding issue analyzed annual reports of assessee for years under consideration as under: S.No. Source of funds A Y 2009-10 A Y 2011-12 AY 2012-13 AY 2013-14 1 Shareholders fund 1410 1410 1410 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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