HDFC ASSET MANAGEMENT CO. LTD, V. ADDL CIT RG 1(1),

MA 114/MUM/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4125 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 27 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-03-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2009-2010
• Appeal Filed On: 21-05-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: KIRTI SHAH
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH H , MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANJAY GARG , JUDICIAL MEMBER MA NO. 114/MUM/2015 (OUT OF ITA NO. 754 /MUM/201 3) : (A.Y : 200 9 - 1 0) HDFC ASSET MANAGEMENT CO. LTD., 2 ND FLOOR, HUL HOUSE, BACKBAY RECLAMATION, H.T. PAREKH MARG, CHURCHGATE, MUMBAI 400 020. PAN : AA ACH7614L VS. ADDL. COMMISSIONER OF INCOME TAX, RANGE - 1(1), MUMBAI ( APPLICANT ) (RESPONDENT) APPLICANT BY : SHRI KIRTI SHAH & SHRI RAJIV THAKKAR REVENUE BY : SHRI M.M. CHATE (DR) DATE OF HEARING : 11 /0 9 /201 5 DATE OF PRONOUNCEMENT : 17 /03/2016 O R D E R PER R.C. SHARMA, AM : THIS MISCELLANEOUS APPLICATION AROSE OUT OF ITA NO. 754/MUM/2013, ORDER DT. 20.2.2015. 2. THROUGH THIS MISCELLANEOUS APPLICATION THE ASSESSEE ASKED FOR ALLOWING THE GROUND RAISED WITH REGARD TO DISALLOWANCE MADE U/S 14A. 3. WE HAVE HEARD THE RIVAL CONTENTIONS AND FIND THAT WITH REGARD TO DISALLOWANCE MADE U/S 14A R.W.R. 8D(2)(III), THE TRIBUNAL HAS CLEARLY 2 HDFC ASSET MANAGEMENT CO. LTD. MA NO. 114/MUM/2015 GIVEN DIRECTI ON TO THE AO TO RE - CALCULATE THE DISALLOWANCE AFTER REDUCING INVESTMENT IN MUTUAL FUNDS AND GROUP CONCERNS WHICH DOES NOT REQUIRE INCURRENCE OF MAJOR EXPENDITURE. WE DO NOT FIND ANY MISTAKE IN THE DIRECTION SO GIVING BY THE TRIBUNAL INSOFAR AS THE ACTUAL CALCULATION IS ONLY TO BE DONE BY THE AO AND NOT BY THE TRIBUNAL. THUS, WE DO NOT FIND ANY MISTAKE IN THE ORDER OF THE TRIBUNAL. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 7 T H MARCH, 2016. SD/ - SD/ - ( SANJAY GARG ) JUDICIAL MEMBER (R.C. SHARMA) ACCOUNTANT MEMBER MUMBAI, DATE : 1 7 T H MARCH, 2016 *SSL* COPY TO : 1) THE APPLICANT 2) THE RESPONDENT 3) THE CIT(A) CONCERNED 4) THE CIT CONCERNED 5) THE D.R, H BENCH, MUMBAI 6) GUARD FILE BY ORDER DY./ASSTT. REGISTRAR I.T.A.T, MUMBAI