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Income Tax Appellate Tribunal, ‘B’ BENCH : CHENNAI
Before: SHRI GEORGE MATHAN & SHRI A.MOHAN ALANKAMONY
आदेश / O R D E R
PER GEORGE MATHAN, JUDICIAL MEMBER
This is an appeal filed by the Revenue against the order of the Commissioner of Income-tax (Appeals)-2, Chennai in ITA No.218/2016-17/A.Y.2014-15/CIT(A)-2 dated 16.05.2018 for the assessment year 2014-15.
ITA No.2115/chny/2018 :- 2 -: Mr.Karunakaran represented on behalf of the Assessee and 2. Mr.Guru Bashyam represented on behalf of the Revenue.
It was submitted by ld.D.R that the appeal was against the action of Ld.CIT(A) in restricting the disallowances made u/s.14A of the Income Tax Act, 1961 read with Rules 8D of the Income Tax Rules, 1962 to the extent of exempt income earned. It was a submission that the Ld.CIT(A) had followed the decision of the Co-ordinate ‘B’ Bench of Chennai Tribunal in assessee's own case in & 1666/Mds/2017 for assessment years 2012- 13 & 2013-14 dated 21.12.2017 wherein the Tribunal had followed the decision of Hon’ble Delhi High Court in the case of Joint Investment P.
Ltd. Vs. CIT in 372 ITR 694 (Delhi). It was a submission that the order of the CIT(Appeals) was liable to be reversed.
In reply, the ld.A.R vehemently supported the order of the ld.CIT(Appeals).
We have considered the rival submissions. As it is noticed that Ld.CIT(A) has followed the decision of Co-ordinate Bench of this Tribunal in assessee's own case for assessment years 2012-13 & 2013-
ITA No.2115/chny/2018 :- 3 -:
14 dated 21.12.2017 wherein the Tribunal had followed the decision of Hon’ble Delhi High Court in the case of Joint Investment P. Ltd. Vs. CIT in 372 ITR 694 (Delhi), we find no reason to interfere with the order of the CIT(Appeals). Consequently, the appeal filed by the Revenue stands dismissed.
In the result, the appeal of the Revenue is dismissed.
Order pronounced in the open court on 01 January, 2019, at Chennai.