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Income Tax Appellate Tribunal, “C”
Before: SHRI P. M. JAGTAP, V.P & SHRI S. S. GODARA, JM
आदेश / O R D E R Per Shri S. S. Godara: This assessee’s appeal for assessment year 2014-15 arises against the Commissioner of Income-tax (Appeals)-6, Kolkata’s order dated 03.03.2020 passed in case No.CIT(A), Kolkata-6/10141/2018-19 involving proceedings u/s 143(3) of the Income Tax Act, 1961; (in short ‘the Act’). Heard both the parties. Case file persued. 2. The assessee’s petition dated 29.09.20 filed in the instant main appeal had prayed for an early hearing since the solitary issue raised therein challenging correctness of both the lower authorities’ action including section 14A r.w.r 8D disallowance of Rs.1,26,42,918/- for section 115JB MAT computation stated to be no more res integra. With the consent of both the parties, we therefore proceed to deal with the said sole issue itself whilst hearing the assessee’s aforesaid early hearing petition.
Rishra Investments Ltd.
Coming to the main appeal we find that the assessee is not disputing section 14A r.w.r. 8D disallowance on merits. Its only case is that this tribunal’s special bench’s decision in ACIT vs. Vireet Investment Pvt. Ltd. 165 ITD 227 (Delhi) holds that such a disallowance does not deserve to be included for the purpose of finalizing section 115JB computation. This clinching aspect has gone unrebutted from the Revenue side. We therefore accept the assessee’s instant sole substantive grievance as well as the main appeal in ITA No.501/Kol/20.
This assessee’s appeal is allowed in above terms.
Order is pronounced in the open court on 22.10.2020.