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Income Tax Appellate Tribunal, DELHI ‘C’ BENCH,
Before: SHRI BHAVNESH SAINI, & SHRI N.K. BILLAIYA
PER N.K. BILLAIYA, ACCOUNTANT MEMBER,
This appeal by the assessee is preferred against the order of the Commissioner of Income Tax [Appeals] –22 New Delhi dated 21.12.2017 pertaining to Assessment Year 2012-13.
The sum and substance of the grievance of the assessee is that the ld. CIT(A) erred in confirming the disallowance of Rs. 48,70,066/- made u/s 14A of the Income tax Act, 1961 [hereinafter referred to as 'The Act' for short] r.w.r 8D of the ITAT Rules, 1962.
At the very outset, the ld. counsel for the assessee stated that on identical set of facts, in assessee’s own case, the Tribunal has restored the matter to the file of the Assessing Officer with directions.
The ld. DR, on the other hand, could not bring any distinguishing decision in favour of the Revenue.
5. We have given thoughtful consideration to the orders of the authorities below. We find force in the contentions of the ld. counsel for the assessee. This Tribunal in assessee’s own case in for A.Y 2013-14 vide order dated 23.12.2021, has held as under:
“4. Learned AR submitted that the authorities below failed to analyse the nature of investment as to whether the investment is yielding taxable income, exempt income or no income and that the satisfaction regarding the incorrect amount disallowed by the assessee was not recorded by the Assessing Officer. He, however, submitted that facts & circumstances and questions of law involved this year are identical to the ones involved for the assessment years 2009-10, 2010-11 and 2011-12, in which years, a coordinate Bench of this Tribunal in for assessment year 2009-10, 1057/Del/2014 for A.Y. 2010-11 and 2148/Del/2015 for A.Y. 2011-12, restored the issue back to the file of Assessing Officer to consider the issue afresh in the light of observations made in ITA No. 4563/Del/2012 for assessment year 2009-10. Learned AR prayed that this issue for this year may also be restored back to the file of Assessing Officer to consider the same in consonance with the view to be taken for assessment year 2009-10.
In view of the admitted position that the facts and circumstances involved for this year are identical to ones involved in assessment years 2009-10, 2010-11 and 2011-12, in which the issue was restored to the file of Assessing Officer to take a fresh view in the light of directions given in for assessment year 2009-10, we are of the considered opinion that the request of the assessee can be accepted. We accordingly, while setting aside the impugned findings of the authorities below, restore the issue to the file of Assessing Officer to decide the same in the light of the view to be taken for earlier assessment years.”
In light of the previous history of the appellant and respectfully following the findings of the co-ordinate bench [supra], we direct accordingly.
In the result, the appeal filed by the assessee in is treated as allowed for statistical purposes.
The order is pronounced in the open court on 31.03.2021 in the presence of both the rival representatives.