NATESAN SYNCHROCONES PVT. LTD,CHENNAI vs. ACIT, CORPORATE CIRCLE-4(4), CHENNAI

This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals) -8, Chennai, dated 21.08.2017 and pertains to assessment year 2010-11.

The first issue arises for consideration is disallowance made by the Assessing Officer under Section 14A of the Income-tax Act, 1961 (in short 'the Act') read with Rule 8D of the Income-tax Rules, 1962.

Shri S. Sridhar, the Ld.counsel for the assessee, submitted that on identical situation, this Tribunal in the assessee's own case for assessment years 2011-12, 2013-14 and 2012-13, remanded back the matter to the file of the Assessing Officer. The Ld.counsel submitted that for the year under consideration also the matter may be remanded back to the file of the Assessing Officer to consider the claim of the assessee in the light of the judgment of Apex Court in Maxopp Investment Ltd. v.

We heard Shri A. Sasikumar, the Ld. Departmental Representative also. As rightly submitted by the Ld.counsel for the assessee, the disallowance made by the Assessing Officer under Section 14A of the Act read with Rule 8D of the Income-tax Rules, 1962 was remanded back to the Assessing Officer for reconsideration for the assessment years 2011-12, 2013-14 and 2012-13. Since the facts are identical, this Tribunal is of the considered opinion that the matter needs to be reconsidered for the assessment year under consideration also.