M/s. Goel Brothers, Pune V. Deputy Commissioner of Income-tax, Circle - 7, Pune

ITA 501/PUN/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 4997 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-07-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 31-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 14A

Judgement Text

आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.501/PUN/2019 धििाारण वर्ा / Assessment Year : 2013-14 M/s. Goel Brothers, 5, San Mahu Complex, Opp. Poona Club, Camp, Pune – 411001 PAN : AADFG7008F .......अपीलार्थी / Appellant बिाम / V/s. Dy. Commissioner of Income Tax, Circle – 7, Pune ......प्रत्यर्थी / Respondent Assessee by : Shri Krishna V. Gujarathi Revenue by : Shri S.P. Walimbe सुनवाई की तारीख / Date of Hearing : 20-07-2022 घोषणा की तारीख / Date of Pronouncement : 21-07-2022 आदेश / ORDER PER S.S. VISWANETHRA RAVI, JM : This appeal by the assessee against the order dated 22-11-2017 passed by the Commissioner of Income Tax (Appeals)-5, Pune [‘CIT(A)’] for assessment year 2013-14. 2. We find this appeal was filed with a delay of 365 days. To condone the said delay, the assessee filed notarized affidavit dated 29-03-2019 explaining the reasons for delay. On perusal of the same upon hearing both the parties, the delay of 365 days is condoned. 2 ITA No.501/PUN/2019, A.Y. 2013-14 3. At the outset, the ld. AR submitted that the AO made disallowance of Rs.24,35,880/- u/s. 14A r.w. Rule 8D(2)(iii). The contention of ld. AR is that the disallowance so made by the AO u/s. 14A r.w. Rule 8D(2)(iii) is excessive in respect of exempt income earned. We find force in the arguments of ld. AR. Therefore, we deem it proper to remand the issue to the file of AO for its fresh verification for making disallowance against those investments yielded exempt income. The assessee is liberty to file evidences, if any, in support of its claim. Thus, the ground raised by the assessee is allowed for statistical purpose. 4. In the result, the appeal of assessee is allowed for statistical purpose. Order pronounced in the open court on 21 st July, 2022. Sd/- Sd/- (Inturi Rama Rao) (S.S. Viswanethra Ravi) ACCOUNTANT MEMBER JUDICIAL MEMBER पुणे / Pune; दिनाांक / Dated : 21 st July, 2022. रदव आदेश की प्रधिधलधप अग्रेधर्ि / Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant. 2. प्रत्यर्थी / The Respondent. 3. The CIT(A)-5, Pune 4. The Pr. CIT-4, Pune 5. दवभागीय प्रदतदनदि, आयकर अपीलीय अदिकरण, “ए” बेंच, पुणे / DR, ITAT, “A” Bench, Pune. 6. गार्ड फ़ाइल / Guard File. //सत्यादपत प्रदत// True Copy// आिेशानुसार / BY ORDER, वररष्ठ दनजी सदचव / Sr. Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune