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Income Tax Appellate Tribunal, PUNE
This assessee‟s appeal for A.Y. 2016-17 arises against the CIT(A) National Faceless Appeal Centre, Delhi‟s order dated 14-12-2021 passed in case No. ITBA/NFAC/S/250/2021-22/1037776426 Involving proceedings u/s 143(3) of the Income-tax Act, 1961, in short “the Act”.
Heard both the parties. Case file perused.
Coming to the assessee‟s sole substantive grievance challenging correctness of both the lower authorities‟ action invoking section 14A r.w. rule 8D disallowance of Rs. 7,99,980/-. I find that there is hardly any requirement to deliver deeper in the relevant factual matrix. Suffice to say, both the lower authorities have disallowed administrative expenditure component under Rule 8D(ii) of the I.T. Rules without even making it clear as to whether the same relates to exempt income yielding investment only or not. Faced with this situation, I quote Asstt. CIT Vs. Vireet Investments (2017) 165 ITD 27 (Delhi- SB) and ACB India Ltd. Vs. CIT (2014) 374 ITR 108 (Del) to restore the ITA 106/PUN/2022 Vijay D. Nibjya A.Y. 2016-16 instant computation issue back to the Assessing Officer in very terms as per law within three effective opportunities of hearing. Ordered accordingly. 6. This assessee‟s appeal is allowed for statistical purposes in above terms. . Order pronounced in the open Court on this 17th August 2022.