DCIT., RANGE-8(2), MUMBAI V. HOME SOLUTION RETAIL INDIA LTD., MUMBAI

ITA 5787/MUM/2011

• Counselvise Citation: 578719914 RSA 2011
• Duration Of Justice: 9 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-05-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2007-2008
• Appeal Filed On: 16-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SATBEER SINGH
• Keywords: Earning of tax free income
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC BEFORE SHRI D. MANMOHAN, VICE PRESIDENT (MZ) I.T.A.NO. 5787/MUM/2011 (ASSESSMENT YEAR : 2007-08) DCIT RANGE 8(2) ROOM NO. 216-A AAYAKAR BHAVAN M.K. ROAD MUMBAI-400 020. VS. M/S. HOME SOLUTION RETAIL INDIA LTD. SHYAM NAGAR, OFF JOGESHWARI VIKROLI LINK ROAD JOGESHWARI EAST MUMBAI-400 060. APPELLANT RESPONDENT PAN/GIR NO. : AABCH4844F ASSESSEE BY : SHRI SAMEER DALAL DEPARTMENT BY : SHRI SATBEER SINGH DATE OF HEARING : 20.3.2012 DATE OF PRONOUNCEMENT : .2012 ORDER PER D.MANMOHAN (VP) :- THE ONLY ISSUE URGED BY THE REVENUE READS AS UNDER :- ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, LEARNED CIT(A) ERRED IN DIRECTING THE ASSESSING OFFICER TO MAKE A REASONABLE ESTIMATE OF EXPENSES ATTRIBUTABLE TO EAR NING OF EXEMPT INCOME IN RESPECT OF DISALLOWANCE OF ` 27,11,000/- 14A OF THE IT ACT R.W.R. 8D, WITHOUT APPROPRIATION THAT IN THE CA SE OF M/S. GODREJ AND BOYCE MANUFACTURING CO. LTD. VS. DCIT (3 28 ITR 81), THEIR LORDSHIP HAD UPHELD THE CONTENTIONS OF THE UN ION OF INDIA THAT RULE 8D IS REASONABLE IN ITS NATURE. 2. AT THE TIME OF HEARING PARTIES ADMITTED THAT THE ISSUE STANDS SQUARELY COVERED BY THE DECISION OF HON'BLE JURISDI CTIONAL HIGH COURT IN THE CASE OF GODREJ & BOYCE MANUFACTURING CO. LTD. ( 328 ITR 81) (BOM). SINCE LEARNED CIT(A) FOLLOWED THE AFORECITED DECISI ON TO SET ASIDE THE MATTER TO THE FILE OF THE ASSESSING OFFICER, I DO N OT FIND ANY INFIRMITY IN THE ORDER PASSED BY THE LEARNED CIT(A). M/S. HOME SOLUTION RETAIL INDIA LTD. 2 3. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DI SMISSED. ORDER HAS BEEN PRONOUNCED ON 16 TH DAY OF MAY, 2012. SD/- (D. MANMOHAN) VICE-PRESIDENT DATED : 16 TH MAY, 2012. COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A)-CONCERNED. 4. THE CIT, CONCERNED. 5. THE DR CONCERNED, MUMBAI 6. GUARD FILE BY ORDER TRUE COPY ASSTT. REGISTRAR, ITAT, MUMBAI PS