9911796707
TMI Blog2021 (6) TMI 498X X X X Extracts X X X X X X X X Extracts X X X X ..... Rao, AM This is an appeal filed by the assessee company directed against the order of the ld. Commissioner of Income Tax (Appeal), Pune-3 dated 12.01.2018 for the assessment year 2013-14. 2. The appellant company raised the following grounds of appeal:- "On the facts and circumstances of the case and in law, the learned CIT(A): 1. erred in concluding that the Assessing Officer had considered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 09.2013 declaring total income of Rs. 1,36,49,310/-. The scrutiny assessment was completed u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') by the Deputy Commissioner of Income Tax, Circle-4, Pune (in short 'the AO') vide order dated 29.01.2016 at total income of Rs. 1,47,77,369/-. While doing so, the Assessing Officer made addition of Rs. 11,87,427/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this contention was rejected by the ld. Commissioner of Income Tax (Appeal) vide his impugned order. 5. Being aggrieved by the order of the ld. Commissioner of Income Tax (Appeal), the assessee company is before us in the present appeal. 6. Before us, Ld. Counsel-Authorized Representative stated that the ground of appeal relating to the recording of satisfaction that no indirect expenditure was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of computing the amount of disallowance under sub clause (iii) of sub-rule (2) of Rule 8D of the Rule. The issue as regards to the applicability of provision of section 14A of the Act is not under challenge before us. The Hon'ble Special Bench of Income Tax Appellate Tribunal, Delhi in the case of Asstt. CIT Vs. Vireet Investment (P) Ltd., 188 TTJ (Del)(SB) 1 has held that while computing th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ehalf of the appellant that the amount of investment which yielded exempt income alone should be taken into consideration for the purpose of arriving at average value of investment as envisaged under sub clause (iii) of sub-rule (2) of Rule 8D of the Rule. Accordingly, we restore the matter back to the file of Assessing Officer for the purpose of computing the amount of disallowance in the above m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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