ANILKUMAR AGGARWAL, MUMBAI V. ACIT CEN CIR 30, MUMBAI

ITA 5632/MUM/2010

• Counselvise Citation: 563219914 RSA 2010
• Duration Of Justice: 1 year(s) 3 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-10-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2002-2003
• Appeal Filed On: 12-07-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PKB MENEN
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : MUMBAI BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B.RAMAKOTAIAH, ACCOUNTANT MEMBER ITA. NO. 5632/MUM/2010 ASSESSMENT YEAR 2002-2003 MR.ANILKUMAR AGGARWAL MUMBAI 400 051 PAN AABPA3657N VS. ACIT, C.C.30, MUMBAI. (APPELLANT) (RESPONDENT) FOR APPELLANT : SHRI J.P. BAIRAGRA FOR RESPONDENT : SHRI PKB MENEN DATE OF HEARING : 13-10-2011 DATE OF PRONOUNCEMENT : 13-10-2011 ORDER PER D. MANMOHAN, V.P. 1. THE ONLY GROUND URGED BY THE ASSESSEE READS AS UNDER : THE LEARNED CIT(A) ERRED IN CONFIRMING THE DISALLOWANCE OF RS.1,80,000/- UNDER SECTION 14A OF THE INCOME TAX ACT READ WITH RULE 8D OF THE INCOME TAX RULES. 2. BOTH THE PARTIES ADMITTED THAT THE ISSUE STANDS SQUARELY COVERED BY THE DECISION OF THE HONBLE BOMBAY HIGH COURT IN THE CASE OF GODREJ & BOYCE MFG. CO. LTD. VS. DCIT AND ANOTHE R (2010) 328 ITR 81 (BOM.). IN THE LIGHT OF JURISDICTIONAL HIGH COUR T JUDGMENT RULE 8D IS NOT APPLICABLE RETROSPECTIVELY AND HENCE, THE AS SESSING OFFICER HAS TO RECOMPUTE THE DISALLOWANCE, IF ANY, UNDER SECTIO N 14A OF THE ACT WITHOUT TAKING AID OF RULE 8D. WE, THEREFORE, SET A SIDE THE ORDERS PASSED BY THE TAX AUTHORITIES ON THIS ISSUE AND DIR ECT THE ASSESSING OFFICER TO RECONSIDER THE SAME IN ACCORDANCE WITH L AW. 2 ITA. NO. 5632/M/2010 SHRI ANIL KUMAR AGGARWAL 3. PRONOUNCED IN THE OPEN COURT ON 13-10-2011. SD/- SD/- (B.RAMAKOTAIAH) (D.MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT MUMBAI, DATE 13 TH OCTOBER, 2011 VBP/- COPY TO 1. MR.ANILKUMAR AGGARWAL, RNA CORPORATE PARK, 7 TH FLOOR, NEXT TO COLLECTORS OFFICE, KALANAGAR, BANDRA (EAST), M UMBAI 400 051 PAN AABPA3657N 2. ACIT, C.C.30, MUMBAI. 3. CIT(A)-39, MUMBAI 4. CIT, CENTRAL-II, MUMBAI 5. DR A BENCH 6. GUARD FILE (TRUE COPY) BY ORDER ASST. REGISTRAR, ITAT, MUMBAI BENCHES MUMBAI.