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TMI Blog2019 (8) TMI 1694X X X X Extracts X X X X X X X X Extracts X X X X ..... n ITA No.1004/Mum/2015 for A.Y.2010-11 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-52, Mumbai in appeal No.CI(A)-52/IT/DC/AC-CC-4(2)/109/2010-11 dated 16/12/2014 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 26/03/2013 by the ld. Asst. Commissioner of Income Tax, Central Circle- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder third limb to the tune of Rs. 64,97,089/-. The total disallowance made u/s.14A read with rule 8D of the rules worked out to Rs. 11,82,55,983/-. The ld. CIT(A) upheld the action of the ld. AO. 4. The assessee had filed altered grounds of appeal and had also filed the additional ground and appeal challenging the disallowance u/s.14A of the Act under the normal provisions of the Act as under:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. At the outset, we find the additional ground raised by the assessee is purely a legal issue and does not require any verification of facts and it goes to the root of the matter. Hence, we are inclined to admit the additional ground and take up for adjudication. The ld. AR placed on record, the copy of the order of this Tribunal in its own case passed for A.Y.2008-09 in ITA No.6900/Mum/2011 d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aking investments would apply even for the year under consideration. Respectfully following the decision of Hon'ble Jurisdictional High Court supra and the decision of this Tribunal in A.Y.2008-09 in assessee's own case, we direct the ld. AO to delete the disallowance of interest made under second limb and rule 8D(2) of the rules. 5.1. With regard to disallowance of administrative expenses made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act as held by the Special Bench of Delhi Tribunal in the case of Vireet Investment (P) Ltd. reported in 165 ITD 27. However, the ld. AO is directed to consider the disallowance of expenses incurred for the purpose of earning exempt income based on actual amounts debited to profit and loss account. This direction is also given in the light of the decision of Special Bench of Delhi Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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