2021 (12) TMI 1399

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..... ld that Section 14A disallowance amount cannot be added to assessee s income for the purpose of computation of income under Section 115JB relying upon the decision of Vireet Investment (P) Ltd. [ 2017 (6) TMI 1124 - ITAT DELHI] and also holding that issue of debatable and as such the CIT ought not to have taken up for revision under Section 263 - HELD THAT:- As Respondent submits that the issue, i .....

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..... (for short, 'the Tribunal'), relating to the assessment year 2010-11. 2. This appeal has been admitted to consider the following substantial questions of law. (1) Whether on the facts and in the circumstances of the case, the Tribunal is right in law in allowing the appeal preferred by the assessee by setting aside the CIT's order of revision passed under Section 263 of the Act? ( .....

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..... als) had jurisdiction to invoke Section 263 of the Act would render academic. 4. Learned Counsel for the revenue does not dispute the same. 5. The aforesaid submissions are placed on record. 6. In view of the aforesaid, no substantial question of law arises for our consideration. The appeal stands disposed of in terms of the order passed in the assessee's own case in I.T.A.No.399/2018 dated .....

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