MAHARASHTRA SCOOTERS LIMITED,PUNE vs. INCOME-TAX OFFICER, WARD - 9(3), PUNE

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ITA 182/PUN/2018Status: HeardITAT Pune17 September 2021AY 2014-158 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the AO had recorded satisfaction for invoking Section 14A. However, following its own prior orders, the Tribunal set aside the impugned orders and remitted the matter back to the AO for fresh adjudication.

What were the facts?

The assessee claimed dividend income as exempt and made a suo motu disallowance under Section 14A. The Assessing Officer (AO) invoked Rule 8D and made a higher disallowance, which was confirmed by the CIT(A).

What were the issues?

Whether the AO recorded proper satisfaction for invoking Section 14A and whether the disallowance under Section 14A read with Rule 8D was correctly computed.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH, ‘A’ PUNE

Before: SHRI R.S. SYAL & SHRI S.S.VISWANETHRA RAVI

For Appellant: Shri Kirit Kamdar &, Shri Nikhil Mutha
For Respondent: Shri A.M. Mahadevan Krishnan

Heard together (2 matters)

ITA No.3060/PUN/2017
ITA No.182/PUN/2018

Read from the judgment's own cause title. This page is filed under one of them.

आदेश की �ितिलिप अ�ेिषत/Copy of the Order is forwarded to: अपीलाथ� / The Appellant; 1. ��थ� / The Respondent; 2. 3. The CIT(A)-6, Pune 4. The Pr. CIT-5, Pune 5. DR, ITAT, ‘A’ Bench, Pune गाड� फाईल / Guard file. 6.

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 16-09-2021 Sr.PS 2. Draft placed before author 16-09-2021 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.

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