THE COMMISSIONER OF INCOME TAX-II vs. MORGAN SECURITIES & CREDITS PVT. LTD.

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI

ITA 589/2014

THE COMMISSIONER OF INCOME TAX-II ..... Appellant Through: Mr Rohit Madan, Senior Standing Counsel with Mr Zoheb Hossain, Advocate.

versus

MORGAN SECURITIES & CREDITS PVT. LTD. ..... Respondent Through: Mr Simran Mehta and Mr Prabhat Kalia, Advocates.

AND 16. +

ITA 590/2014

THE COMMISSIONER OF INCOME TAX DELHI-II

..... Appellant Through: Mr Rohit Madan, Senior Standing Counsel with Mr Zoheb Hossain, Advocate.

versus

MORGAN SECURITIES & CREDITS PVT. LTD. ..... Respondent Through: Mr Parag P. Tripathi, Senior Advocate with Mr Simran Mehta and Mr Prabhat Kalia, Advocate.

ITA 589/2014 & 590/2014

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CORAM: HON'BLE DR. JUSTICE S.MURALIDHAR HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R %

15.09.2015 CM No.14990/2014 in ITA 590/2014 1. For the reasons stated in the application, the delay of 200 days in re-filing the appeal is condoned. 2. The application stands disposed of. ITA 589/2014 ITA 590/2014 3. These are appeals filed by the Revenue against the order dated 31st January, 2014 passed by the Income Tax Appellate Tribunal (‘ITAT’) in ITA No.5527/Del/2010 for Assessment Year (‘AY’) 2006-07 and against the order dated 29th February, 2012 passed by the ITAT in ITA No.1402/Del/2011 for AY 2007-08. 4. The common question that is urged in both appeals by the Revenue is whether Rule 8D of the Income Tax Rules, 1962 is prospective? The said question stands answered against the Revenue and in favour of the Assessee

ITA 589/2014 & 590/2014

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by the decision of this Court in Maxopp Investment Ltd. v. Commissioner of Income Tax, (2012) 347 ITR 272 (Del). 5. Consequently, no substantial question of law arises in these appeals. 6. The appeals are dismissed.

S.MURALIDHAR, J

VIBHU BAKHRU, J SEPTEMBER 15, 2015 MK

ITA 589/2014 & 590/2014

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