Shri Vijaykumar Devichand Nibjiya, Pune V. Assistnt Commissioner of Income-Tax, Circle-5, Pune

ITA 106/PUN/2022

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 0119 (ITAT-PUNE)
• Duration Of Justice: 5 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2016-2017
• Appeal Filed On: 01-03-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, PUNE SINGLE MEMBER CASE SHRI S.S. GODARA, JUDICIAL MEMBER ITA No. 106/PUN/2022: Assessment Year : 2016-17 Vijay D. Nibjiya Office No. 304-305-306 „D‟ Wing 3 rd floor, Business Court, Mukundnagar PUNE – 411 037 PAN: AANPN 8491 R :Appellant Vs. The Asstt. C.I.T. Cir. 5, Pune : Respondent Appellant by : Shri K. Srinivasan (virtual) Respondent by : Shri M.G. Jasnani Date of Hearing : 29-07-2022 Date of Pronouncement : ___-08-2022 ORDER This assessee‟s appeal for A.Y. 2016-17 arises against the CIT(A) National Faceless Appeal Centre, Delhi‟s order dated 14-12-2021 passed in case No. ITBA/NFAC/S/250/2021-22/1037776426 Involving proceedings u/s 143(3) of the Income-tax Act, 1961, in short “the Act”. Heard both the parties. Case file perused. 2. Coming to the assessee‟s sole substantive grievance challenging correctness of both the lower authorities‟ action invoking section 14A r.w. rule 8D disallowance of Rs. 7,99,980/-. I find that there is hardly any requirement to deliver deeper in the relevant factual matrix. Suffice to say, both the lower authorities have disallowed administrative expenditure component under Rule 8D(ii) of the I.T. Rules without even making it clear as to whether the same relates to exempt income yielding investment only or not. Faced with this situation, I quote Asstt. CIT Vs. Vireet Investments (2017) 165 ITD 27 (Delhi- SB) and ACB India Ltd. Vs. CIT (2014) 374 ITR 108 (Del) to restore the 2 ITA 106/PUN/2022 Vijay D. Nibjya A.Y. 2016-16 instant computation issue back to the Assessing Officer in very terms as per law within three effective opportunities of hearing. Ordered accordingly. 6. This assessee‟s appeal is allowed for statistical purposes in above terms. . Order pronounced in the open Court on this 17 th August 2022. Sd/- (SATBEER SINGH GODARA) JUDICIAL MEMBER Pune; Dated, this 17 th day of August 2022 Ankam Copy of the Order forwarded to : 1. The Appellant. 2. The Respondent. 3. The CIT(A)/NFAC Delhi 4. The Pr. CCIT Pune. 5. The SMC Bench, ITAT Pune. 6. Guard File BY ORDER, Sr. Private Secretary ITAT, Pune. /// TRUE COPY /// 3 ITA 106/PUN/2022 Vijay D. Nibjya A.Y. 2016-16 Date 1 Draft dictated on 05-08-2022 Sr.PS 2 Draft placed before author 16-08-2022 Sr.PS 3 Draft proposed and placed before the second Member JM/AM 4 Draft discussed/approved by second Member AM/JM 5 Approved draft comes to the Sr. PS/PS Sr.PS/PS 6 Kept for pronouncement on 17-08-2022 Sr.PS/PS 7 Date of uploading of order 17-08-2022 Sr.PS/PS 8 File sent to Bench Clerk 17-08-2022 Sr.PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R 11 Date of dispatch of order