M/S. K.M. REALTECH LTD.,NEW DELHI vs. ACIT, FARIDABAD

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ITA 4083/DEL/2015Status: DisposedITAT Delhi27 September 2018AY 2010-113 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal as withdrawn, granting liberty to the assessee to raise all legal and factual grounds in future years concerning similar additions.

What were the facts?

The assessee's appeal challenged an order related to disallowance under Section 14A. The Revenue's earlier appeal for the same assessment year was dismissed by the ITAT.

What were the issues?

The primary issue was the disallowance of expenses under Section 14A. The assessee chose not to press the appeal due to the smallness of the claim and the dismissal of the Revenue's prior appeal.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “E”, NEW DELHI

Before: SHRI G.D. AGRAWAL, HON’BLE & SHRI K. NARASIMHA CHARY

For Respondent: Ms. Rashmita Jha, Sr. DR
Hearing: 24.09.2018

Date of Hearing : Date of Hearing : 24.09.2018 Date of Hearing : Date of Hearing : 24.09.2018 24.09.2018 24.09.2018 Date of Order : Date of Order : 27-09 Date of Order : Date of Order : 09 09-201 09 201 2018 201

ORDER ORDER ORDER ORDER PER PER K. PER PER K. K. NARASIMHA K. NARASIMHA NARASIMHA CHARY, J.M. NARASIMHA CHARY, J.M. CHARY, J.M. CHARY, J.M. This is an appeal challenging the Order dated 05.05.2015 in Appeal No.

84/13-14 for assessment year 2010-11 passed by the Ld. Commissioner of Income Tax (Appeals), Faridabad (in Short “Ld. CIT(A)”).

2.

At the outset, Ld. Authorised Representative for the Assessee submitted that this matter relates to the disallowance by invoking the provisions of Section 14A of the Income Tax Act, 1961 (in Short “Act”) read with Rule 8D of the Income 1 Tax Rules, 1962 (in Short “Rules”) to the tune of Rs. 10,51,178/-. It was further submitted that the Appeal preferred by the Revenue was dismissed on 23.08.2018 by the ITAT in (AY 2010-11), view of the Instructions given in the CBDT Circular No. 3/2018 dated 11.07.2018. In the circumstances, the Ld. AR further submitted that in view of the smallness of the claim involved in this Appeal, the Assessee does not want to press the same for adjudication, however, with a prayer that liberty may be granted to the Assessee to raise all the legal and factual grounds in any subsequent year where the Assessee chooses to challenge the similar addition.

3.

Ld. Departmental Representative fairly concedes the request made by the Ld. A.R. for the Assessee and submitted that it is a fact that the Appeal preferred by the Revenue in (AY 2010-11) was dismissed as stated above. Ld. DR further submitted that this Appeal may be dismissed in view of the withdrawal of the same by the Assessee by reserving the liberty to the assessee to challenge any future addition on the basis of section 14A of the Act on the legal and factual grounds.

4.

Hence, while recording the facts, we dismiss this appeal as “withdrawn” and the Assessee is at liberty to challenge any future addition u/s. 14A of the Act on the legal and factual grounds without reference to the withdrawal.

5.

In the result, the Appeal filed by the Assessee stands dismissed.

Order pronounced in the Open Court on 27/09/2018.

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