ADURJEE & BROTHERS PRIVATE LIMITED, PUNE V. DCIT CENTRAL CIRCLE-1(1), PUNE

ITA 1953/PUN/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 5818 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 7 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-07-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 09-12-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R.S. ABYANKAR
• Keywords: Rule 8D
• Section: 143(3); 14A

Judgement Text

आयकर अपीऱीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI S.S.GODARA, JM AND SHRI DR. DIPAK P. RIPOTE, AM आयकर अपीऱ सं. / ITA No.1953/PUN/2019 ननधधारण वषा / Assessment Year : 2012-13 Adurjee & Bros. Pvt. Ltd., 16-B/1, Sarosh Bhavan, Dr. Ambedkar Road, Pune – 411 001 PAN : AABCA4890J .......अपऩलधथी / Appellant बनधम / V/s. DCIT, Cen. Cir. 1(1), Pune ......प्रत्यथी / Respondent Assessee by : Shri R.S. Abyankar Revenue by : Shri S. P. Walimbe सपनवधई की तधरऩख / Date of Hearing : 09.06.2022 घोषणध की तधरऩख / Date of Pronouncement : 19.07.2022 आदेश / ORDER PER S. S. GODARA, JM : 1. This assessee’s appeal for A.Y. 2012-13 is directed against the CIT(A)- 11, Pune’s order dated 03/10/2019 passed in case No. PN/CIT(A)-11/DCIT Cen.Cir.1(1)/PN/228/2014-15 involving proceeding u/s. 143(3) of the Income Tax Act, 1961; in short "the Act”. Heard both the parties. Case file perused. 2. Learned counsel states at the outset he is only pressing for the assessee’s second substantive ground challenging correctness of both the 2 ITA No.1953/PUN/2019 A.Y. 2012-13, Adurjee & Bros. Pvt. Ltd., lower authorities action making section 14A r.w. Rule 8D disallowance of Rs. Rs. 79,22,635/-(indirect expenditure) in relation to its exempt income from dividends and share of profit from partnership firms amounting to Rs.61,63,889/- and (-) Rs15600; respectively, coming to net sum of Rs.61,48,289/-. 3. Learned counsel invited our attention to the Assessing Officer’s detailed computation sheet Annexure – 1 that he had considered the assessee’s entire investments as against those only yielding exempt income. Faced with this situation and in light of this tribunal’s Special Bench decision in ACIT V/s Vireet Investments (P) Ltd. 82 taxmann.com 415 (Delhi- Trb.) (SB), we reject the Revenue’s vehement arguments supporting the impugned disallowance in principle and direct the assessing authority to frame afresh computation as per law in above terms. Ordered accordingly. No other ground has been pressed before us. 4. This assessee’s appeal is partly allowed for statistical purposes in above terms. Order pronounced in the Open Court on this 19 th day of July, 2022. Sd/- Sd/- (DR.DIPAK P.RIPOTE) (S.S. GODARA) लेखध सदस्य/ ACCOUNTANT MEMBER न्यधनयक सदस्य/JUDICIAL MEMBER पपणे / Pune; ददनधांक / Dated : 19 th July, 2022. Ashwini 3 ITA No.1953/PUN/2019 A.Y. 2012-13, Adurjee & Bros. Pvt. Ltd., आदेश की प्रनतनलनप अग्रेनषत / Copy of the Order forwarded to : 1. अपऩलधथी / The Appellant. 2. प्रत्यथी / The Respondent. 3. The CIT(A)-11, Pune. 4. The Pr.CIT(Central), Pune. 5. नवभधगऩय प्रनतनननध, आयकर अपऩलऩय अनधकरण, “ए” बेंच, पपणे / DR, ITAT, “A” Bench, Pune. 6. गधर्ा फ़धइल / Guard File. आदेशधनपसधर / BY ORDER, // True Copy // Senior Private Secretary आयकर अपऩलऩय अनधकरण, पपणे / ITAT, Pune. 4 ITA No.1953/PUN/2019 A.Y. 2012-13, Adurjee & Bros. Pvt. Ltd., S.No. Details Date Initials 1 Draft dictated on 09.06.2022 2 Draft placed before author 04.07.2022 3 Draft proposed & placed before the Second Member 4 Draft discussed/approved by Second Member 5 Approved Draft comes to the Sr. PS/PS 6 Kept for pronouncement on 7 Date of uploading of Order 8 File sent to Bench Clerk 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