Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, PANAJI BENCH, PANAJI
Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY
आदेश / ORDER
PER R.S. SYAL, VP :
This appeal by the assessee is directed against the order
14-09-2018 passed by the CIT(A)-1, Panaji in relation to the
assessment years 2012-13.
The only issue raised in this appeal is against the enhancement
of addition by Rs.34,33,048/- u/s.14A read with Rule 8D(2)(iii) of
the Act.
We have heard the rival submissions and gone through the
relevant material on record. It is seen that the ld. CIT(A) has
recorded on page 18 onwards of his order that disallowance u/s.14A
2 ITA No.444/PAN/2018 Gangadhar N. Agrawal
read with Rule 8D(2)(iii) was liable to be enhanced by sum of
Rs.34,33,048/-. He tabulated the direct expenses and administrative
expenses forming part of the Profit and loss account to reach the
conclusion that the disallowance was to be enhanced by
Rs.34,33,048/-. The ld. AR submitted that the expenses taken out
by the ld. CIT(A) for enhancing the addition were directly in
relation to the taxable income and hence, could not have been so
considered for the purposes of making disallowance u/s.14A qua the exempt income. Without going into further details and in the
absence of any discussion made by the ld. CIT(A) on this score, we
are of the considered opinion that the ends of justice would meet
adequately if the impugned order on this score is set-aside and the
matter is remitted to the file of the ld. CIT(A). We order
accordingly and direct him to decide this issue afresh as per law
after allowing a reasonable opportunity of hearing to the assessee.
In the result, the appeal is allowed for statistical purposes. Order pronounced in the Open Court on 11th July, 2023.
Sd/- Sd/- (PARTHA SARATHI CHAUDHURY) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; िदनांक Dated : 11th July, 2023 सतीश
ITA No.444/PAN/2018 Gangadhar N. Agrawal
आदेश की �ितिलिप अ�ेिषत/Copy of the Order is forwarded to: अपीलाथ� / The Appellant; 1. ��थ� / The respondent 2. 3. The CIT-1, Panaji 4. DR, ITAT, Panaji Bench, Panaji गाड� फाईल / Guard file. 5.
आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune
Date 1. Draft dictated on 07-07-2023 Sr.PS 2. Draft placed before author 10-07-2023 Sr.PS 3. Draft proposed & placed before JM the second member 4. Draft discussed/approved by JM Second Member. 5. Approved Draft comes to the Sr.PS Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *