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Income Tax Appellate Tribunal, “SMC”, BENCH KOLKATA
Before: SHRI J.SUDHAKAR REDDY, AM
O R D E R This is an appeal filed by the revenue directed against the order of the Commissioner of Income Tax (Appeals)-2, Kolkata for the assessment year 2012-13.
The sole issue that is disputed by the revenue, is as to whether the disallowance made under section 14 A of the I T act 1961 (ACT) read with rule 8D of the income tax rules, has to be considered while computing book profits under section 115 JB of the act.
Assessing officer, in his order passed under section 143(3), while computing the profits under section 115JB of the act considered and added the disallowance under section 14A read with rule 8D of the Act. On appeal the 1st Appellate Authority deleted this adjustment by applying the decision of jurisdictional tribunal in the case of Integrated Gold Mining Ltd versus DCIT (ITA No. 1146/KOL/2012 dated 30.11.2015) and other decisions. The Ld. DRP did not cite any contrary decisions.
2 M/s Shree Capital Services Ltd. 4. In view of the above discussion, respectfully following the orders of the coordinate bench of the tribunal on the very same issue cited by the Ld. CIT, I uphold his order and dismiss this appeal of revenue. 5. In the result the appeal of revenue is dismissed.
Order pronounced in the open court on this 28/04/2017.