Amita Avinash Phadnis, Pune V. Income-tax Officer, Ward - 11(5), Pune

ITA 2964/PUN/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 6295 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 1 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-01-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 24-12-2018
• Assessment Year: 2014-2015
• Appeal Filed On: 13-12-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Earning of tax free income
• Section: 14A

Judgement Text

- IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC , PUNE , BEFORE MS. SUSHMA CHOWLA, JM . / ITA NO. 2964 /P U N/201 7 / ASSESS MENT YEAR : 20 14 - 15 AMITA AVINASH PHADNIS 1205/1/3/4, SHUBHALAXMI, PUNE 411004 . / APPELLANT PAN: AADPP7237M VS. THE INCOME TAX OFFICER , WARD 1 1 ( 5 ) , PUNE . / RESPONDENT / APPELLANT BY : NONE / RESPONDENT BY : S HRI RAJESH GAWALI / DATE OF HEARING : 1 5 . 0 1 .201 9 / DATE OF PRONOUNCEMENT: 25 . 0 1 .201 9 / ORDER PER SUSHMA CHOWLA, J M : TH E APPEAL FILED BY ASSESSEE IS AGAINST THE ORDER OF CIT (A) , PUNE - 1 , PUNE, DATED 22 . 0 9 .20 1 7 RELATING TO ASSESSMENT YEAR 20 14 - 15 AGAINST ORDER PASSED UNDER SECTION 14 3(3) OF THE INCOME - TAX ACT , 1961 (IN SHORT THE ACT) . 2. THE APPEAL WAS FIXED FOR HEARING ON 06.11.2018 AND THEREAFTER IT WAS ADJOURNED AT THE REQUEST OF ASSESSEE. THEREAFTER, THE APPEAL WAS FIXED FOR HEARING ON 24.12.2018 AND 15.01.2019. HOWEVER, NONE APPEARED ON BEHALF OF ITA NO. 2964 /P U N/20 1 7 AMITA A PHADNIS 2 ASSESSEE NOR ANY APPLICAT ION WAS MOVED FOR ADJOURNMENT AND ACCORDINGLY, I PROCEED TO DECIDE THE APPEAL EX - PARTE THE AS SESSEE. 3. THE ONLY ISSUE RAISED IN THE PRESENT APPEAL IS AGAINST DISALLOWANCE MADE UNDER SECTION 14A OF THE ACT READ WITH RULE 8D OF THE INCOME TAX RULES, 1962 (IN SHORT THE RULES) . ON WITHOUT PREJUDICE BASIS, THE ASSESSEE SUBMITTED THAT THE DISALLOWA NCE BE RESTRICTED TO EXEMPT INCOME FOR THE YEAR UNDER CONSIDERATION IN LINE WITH THE RATIO LAID DOWN BY THE HONBLE HIGH COURT OF DELHI IN DCIT VS. JOINT INVESTMENT PVT. LTD. (2015) 372 ITR 694 (DEL) . 4. THE ISSUE RAISED ON WITHOUT PREJUDICE BASIS I.E. IN RESTRICTING THE DISALLOWANCE UNDER SECTION 14A OF THE ACT IS SQUARELY COVERED BY THE RATIO LAID DOWN BY THE HONBLE HIGH COURT OF DELHI IN DCIT VS. JOINT INVESTMENT PVT. LTD. (SUPRA) . A PPLYING THE SAID RATIO, WE DIRECT THE ASSESSING OFFICER TO RESTRICT T HE DISALLOWANCE UNDER SECTION 14A OF THE ACT TO THE EXTENT OF EXEMPT INCOME I.E. 1,52,362/ - . THE GROUNDS OF APPEAL RAISED BY ASSESSEE ARE THUS, PARTLY ALLOWED. 5 . IN THE RESULT, APPEAL OF ASSESSEE IS PARTLY ALLOWED. ORDER PRONOUNCED ON THIS 25 TH DAY OF JANUARY , 201 9 . SD/ - (SUSHMA CHOWLA) / JUDICIAL MEMBER / PUNE ; DATED : 25 TH JANUARY , 201 9 . GCVSR ITA NO. 2964 /P U N/20 1 7 AMITA A PHADNIS 3 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT ; 2. / THE RESPONDENT; 3. ( ) / THE CIT(A) , PUNE - 1, PUNE ; 4. THE PR. CIT - 1 , PUNE ; 5. 6. , , , - / DR SMC , ITAT, PUNE; / GUARD FILE . / BY ORDER , // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE