CIT v. Sociedade De Fomento Industrial (P) Ltd.

Shri Shri Sushil Kumar Agrawal, Korba, Korba(Cg) vs. The Joint Commissioner of Income Tax, Range Korba, Korba(Cg)

In the result, appeal of the assesee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 93 & 94/Rpr/2017 "नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., T.P Nagar, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ"/Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Korba (C.G.) ……""यथ" / Respondent

…hil Kumar Agrawal Vs. Joint Commissioner of Income Tax, Range, Korba ITA Nos. 93 & 94 /RPR/2017 correctness of the said claim. We may herein observe that the Hon’ble High Court of Bombay in the case of CIT Vs. Sociedade De Fomento Industrial (P). Ltd. (2020) 429 ITR 358 (Bom.) had observed that the A.O before rejecting the disallowance offered by the assessee remains under a statutory obligation to give a clear finding with reference to the accounts of the assessee that the other expenditure which were being claimed qua the non-exempt income were in fact related to its exempt income. A similar view had also been…

Shri Shri Sushil Kumar Agrawal, Korba, Korba(Cg) vs. The Joint Commissioner of Income Tax, Range Korba, Korba(Cg)

In the result, appeal of the assesee in ITA No

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 93 & 94/Rpr/2017 "नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Shri Sushil Kumar Agrawal, Prop. Of M/S. Shrikishan & Co., T.P Nagar, Korba (C.G.) Pan : Acgpa4350B .......अपीलाथ"/Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Korba (C.G.) ……""यथ" / Respondent

…hil Kumar Agrawal Vs. Joint Commissioner of Income Tax, Range, Korba ITA Nos. 93 & 94 /RPR/2017 correctness of the said claim. We may herein observe that the Hon’ble High Court of Bombay in the case of CIT Vs. Sociedade De Fomento Industrial (P). Ltd. (2020) 429 ITR 358 (Bom.) had observed that the A.O before rejecting the disallowance offered by the assessee remains under a statutory obligation to give a clear finding with reference to the accounts of the assessee that the other expenditure which were being claimed qua the non-exempt income were in fact related to its exempt income. A similar view had also been…

Harjindar Singh Bal, Durg vs. Income Tax Officer, Ward-2(1), Bhilai

The appeal of the assessee is partly allowed in terms of the aforesaid observations

Bench: Shri Ravish Soodआयकर अपील सं./ Ita No. 57/Rpr/2020 "नधा"रण वष" / Assessment Year : 2010-11 Shri Harjindar Singh Bal Ward- No.29, Hospital Colony, Durg (C.G.)-491 001 Pan : Adepb7178F .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-2(1), Bhilai (C.G.). ……""यथ" / Respondent

…आयकर अपील"य अ"धकरण "यायपीठ “एक-सद"य” मामला रायपुर म" IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH “SMC”, RAIPUR "ी रवीश सूद, "या"यक सद"य के सम" BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER आयकर अपील सं./ ITA No. 57/RPR/2020 "नधा"रण वष" / Assessment Year : 2010-11 Shri Harjindar Singh Bal Ward- No.29, Hospital Colony, Durg (C.G.)-491 001 PAN : ADEPB7178F .......अपीलाथ" / Appellant बनाम / V/s. The Income Tax Officer-2(1), Bhilai (C.G.). ……""यथ" / Respondent Assessee by : Shri Veekaas S Sharma, CA Revenue by : Shri Ananjay Kumar Tiwary, Sr. DR सुनवाई क" तार"ख / Date of Hearing : 12.12.2022 घोषणा क" तार"ख / Date…

Jindal Power Limiteed, Raigarh vs. Deputy Commissioner of Incoe Tax, Circle 1(1), Bilaspur

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos.199/Rpr/2017 "नधा"रण वष" / Assessment Years: 2008-09

…was liable to be struck down. In order to support his aforesaid contention the Ld. AR had relied on the judgment of the Hon’ble High Court of Bombay in the case of CIT v. Sociedade De Fomento Industrial Pvt. Ltd. (2020) 14 Jindal Power Limited Vs. DCIT-1(1) 429 ITR 358 (Bom). Apart from that, it was submitted by the Ld. AR that only those investments which had yielded exempt income during the year under consideration were to be considered for computing the disallowance of administrative expenses u/s.14A r.w Rule 8D(2)(iii) of the Income-tax Rules, 1962. In order to buttress his aforesaid contention the Ld. AR h…

Shirdi Steel Re-Rollers Private Limited, Cuncolim vs. The Income Tax Officer, Ward - 5, Margao

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2013-14 Shirdi Steel Re-Rollers Ito, Ward-5, Margao Pvt. Ltd. Nagaraj Kale, Chartered Accountant, G-4, Vs. Kurtarkar Vihar, Opp: Costa Factory, Aquem, Margao, Goa-403601 Pan: Aakfs 3191 G (Appellant) (Respondent) Present For: Appellant By : Shri Srinivas Nayak, Ca Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 16.06.2022 Date Of Pronouncement : 02.09.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Arising Out Of The Order Of Ld. Cit(A),- 2, Panaji In Appeal No. Ita No. 597/Cit(A)-2/Pnj/2017-18 Dated 27.06.2018 Against The Assessment Order Passed By Ito, Ward-5, Margao, U/S 143(3) R.W.S 92Ca Of The Income-Tax Act, 1961 (Hereinafter Referred To As The ‘Act’) Dated 30.12.2018 For A.Y. 2013-14. 2. In The Present Appeal, The Assessee Has Challenged The Additions Made By The Ld. Ao For Four Different Items For Which The Ld. Cit(A) Has Dismissed The Assessee’S Appeal For Non-Prosecution.

…the disallowance of Rs. 33,844/- made by applying Rule 8D(2)(iii). While directing so, we find force from the decision of Hon’ble Jurisdictional High Court of Bombay, Panaji Bench in the case of CIT Vs. Sociedade De Fomento Industrial Pvt. Ltd. (No. 2) (2020) 429 ITR 358 (Bom.) wherein it has held as under: “11. As the record reveals, the assessee received dividend income of Rs. 13,85,03,376. It was exempted under the Income-tax Act. The assessee claimed that it did not incur any expenditure to earn that dividend. It is said to have invested surplus funds through the bankers and other financial institutions. Th…

Hardesh Ores Private Limited, Margao vs. Deputy Commissioner of Income Tax, Circle - 1, Margao

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2012-13 M/S. Hardesh Ores Private Deputy Commissioner Of Limited Income-Tax, Circle-1(1), Villa Flores Da Silva, Vs. Margao, Goa. Erasmo Carvalho Street, Margao, Goa-403601. (Pan: Aaach4515J) (Appellant) (Respondent) Present For: Appellant By : Shri Nishant Thakkar, Advocate Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 16.06.2022 Date Of Pronouncement : 02.09.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Directed Against The Order Of Ld. Cit(A), Panaji-1 Vide

…the assessee that the provisions of section 14A read with Rule 8D could be invoked. 5.2. He further referred to the decision of Hon’ble jurisdictional High Court of Bombay, Panaji Bench in the case of CIT Vs. Sociedade De Fomento Industrial Pvt. Ltd. (2020) 429 ITR 358 (Bom.). Ld. Counsel for the assessee referred to the substantial question of law dealt by the Hon’ble jurisdictional High Court of Bombay, according to which the issue was “Is the tribunal right in deleting the additions made by the AO u/s. 14A of the Act read with Rule 8D of the Income Tax rules?” Hon’ble Bombay High Court answered this substant…

Gangadhar Narsingdas Agrawal (HUF), Margao vs. Asstt. Comm. of Income Tax Circle 1, Margao

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2011-12 M/S. Gangadhar Narsingdas Assistant Commissioner Of Agrawal (Huf) Income-Tax, Circle-1, 1St Floor, Anand Bhavan, Vs. Margao-Goa. Old Station Rod, Margao- Goa 403601 (Pan: Aabhg4804R) (Appellant) (Respondent) Present For: Appellant By : Shri Nishant Thakkar, Advocate Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 16.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Directed Against The Order Of Ld. Cit(A), Panaji-1 Vide Ita No. 42/Mrg/2014-15 Dated 16.03.2018 For A.Y. 2011-12 Passed Against The Assessment Order U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) By Acit, Circle-1, Margao, Goa Dated 25.03.2014. 2. Shri Nishant Thakkar, Advocate Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Appeared On Behalf Of The Revenue.

…i) of Rs.5,67,749/- is directed to be deleted. 7.3. Further, in respect of disallowance made under rule 8D(2)(iii) of Rs.10,46,911/- Hon’ble jurisdictional High court of Bomaby, Panaji Bench in CIT Vs. Sociedade De Fomento Industrial Pvt. Ltd. (No. 2) (2020) 429 ITR 358 (Bom.) has held that – “19. Here, on facts, the Tribunal noted that the. Assessing Officer only discussed the provisions of section 14A(1) but has not justified how the expenditure the assessee incurred during the relevant year related to the income not forming part of its total income. The Assessing Officer, 7 M/s. Gangadhar Narsingdas Agrawa…

M/S. Ahiliabai Sardessai, Panaji vs. Assistant Commissioner of Income Tax Circle 1(1), Panaji

In the result, appeal of assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2015-16 M/S. Ahiliabai Sardessai Assistant Commissioner Of 301, Lotus Court, M. G. Income-Tax, Circle-1(1), Vs. Road, St. Inwz Junction, Panaji. Panaji, Goa-403001. (Pan: Aagfa9044G) (Appellant) (Respondent) Present For: Appellant By : Shri N. J. Prabhudesai, Ar Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 17.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Directed Against The Order Of Ld. Cit(A), Panaji-1 Vide Ita No. Cit(A), Pnj-1/10391/2017-18 Dated 14.09.2018 For A.Y. 2015-16 Passed Against The Assessment Order U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) By Acit, Circle-1(1), Panaji, Goa Dated 13.12.2017. 2. Shri N. J. Prabhudesai, Ar Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Appeared On Behalf Of The Revenue.

…sue and deleted the disallowance of Rs.11,59,010/- worked out by the AO u/s. 14A read with Rule 8D(2)(iii) by applying the ratio of the Hon’ble jurisdictional High Court of Bombay in the case of CIT Vs. Sociedade De Fomento Industrial Pvt. Ltd. (No. 2) (2020) 429 ITR 358 (Bom.). The Ld. counsel for the assessee pointed out that the moot point under consideration before the Coordinate Bench in assessee’s own case was in respect of recording of satisfaction by the Ld. AO having regard to the accounts of the assessee as placed before him. 5.1. He submitted that it is only after the AO has recorded his dissatisfacti…

Asstt. Comm. of Income Tax, Central Circle, Panaji vs. Infrastructure Logistics Pvt. Ltd., Dona Paula

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 380/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 Infrastructure Logistics Pvt. Ltd. Cidade De Goa, Vainguinim Beach, Dona Paula, Goa-403 004. Pan : Aaaci9107R .......अपीलाथ" / Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Range-1, Panaji-Goa, ……""यथ" / Respondent आयकर अपील सं. / Ita No. 381/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 The Assistant Commissioner Of Income Tax, Central Circle, Panaji-Goa, .......अपीलाथ" / Appellant बनाम / V/S.

…ivested of his jurisdiction from working out the disallowance u/s.14A r.w Rule 8D of the Rules. Also, support was drawn by the Ld. AR from the judgment of the Hon’ble High Court of Bombay in the case of CIT Vs. Sociedade De Fomento Industrial (P). Ltd. (2020) 429 ITR 358 ( Bom.) and that of the Hon’ble High Court of Delhi in the case of H.T Media Ltd. Vs. Pr. CIT (2017) 399 ITR 576 ( Delhi). It was 11 Infrastructure Logistics Pvt. Ltd. ITA Nos.380 & 381/PAN/2017 submitted by the Ld. AR that as per the judgment of the Hon’ble Jurisdictional High Court in the case of Sociedade De Fomento Industrial (P). Ltd (supra…

Infrastructure Logistics Pvt. Ltd., Dona Paula vs. Joint Comm. of Income Tax, Range - 1, Panaji

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 380/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 Infrastructure Logistics Pvt. Ltd. Cidade De Goa, Vainguinim Beach, Dona Paula, Goa-403 004. Pan : Aaaci9107R .......अपीलाथ" / Appellant बनाम / V/S. The Joint Commissioner Of Income Tax, Range-1, Panaji-Goa, ……""यथ" / Respondent आयकर अपील सं. / Ita No. 381/Pan/2017 "नधा"रण वष" / Assessment Year : 2009-10 The Assistant Commissioner Of Income Tax, Central Circle, Panaji-Goa, .......अपीलाथ" / Appellant बनाम / V/S.

…ivested of his jurisdiction from working out the disallowance u/s.14A r.w Rule 8D of the Rules. Also, support was drawn by the Ld. AR from the judgment of the Hon’ble High Court of Bombay in the case of CIT Vs. Sociedade De Fomento Industrial (P). Ltd. (2020) 429 ITR 358 ( Bom.) and that of the Hon’ble High Court of Delhi in the case of H.T Media Ltd. Vs. Pr. CIT (2017) 399 ITR 576 ( Delhi). It was 11 Infrastructure Logistics Pvt. Ltd. ITA Nos.380 & 381/PAN/2017 submitted by the Ld. AR that as per the judgment of the Hon’ble Jurisdictional High Court in the case of Sociedade De Fomento Industrial (P). Ltd (supra…

M/S Ahiliabai Sardessai, Panaji vs. ACIT, Circle - 1(1), Panaji

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita Nos. 378 & 379/Pan/2017 "नधा"रण वष" / Assessment Years : 2010-11 & 2012-13 M/S. Ahilibai Sardessai 301, Lotus Court, M.G. Road, St. Inez Junction, Panaji-Goa-403 001 Pan : Aagfa9044G .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Panaji-Goa. ……""यथ" / Respondent Assessee By : Shri D.E. Robinson, Ar Revenue By : Shri Sourabh Nayak, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing :22.02.2022 घोषणा क" तार"ख / Date Of Pronouncement : 31.03.2022

…erate the requisite satisfaction with regards to the correctness of the aforesaid claim of the assessee. At this stage, we may herein observe, that the Hon'ble High Court of Bombay in the case of CIT v. Sociedade De Fomento Industrial Pvt. Ltd. (No. 2) (2020) 429 ITR 358, referring to the facts involved in the case before it, had observed, that though the M/s. Ahilibai Sardessai Vs. ACIT, Circle 1(1) Assessing Officer had discussed the provisions of section 14A(1) of the Act, but had not justified how the expenditure which the assessee had incurred during the relevant year related to the income not forming part…

M/S Ahiliabai Sardessai, Panaji vs. ACIT, Circle - 1(1), Panaji

In the result, appeal of the assessee in ITA No

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita Nos. 378 & 379/Pan/2017 "नधा"रण वष" / Assessment Years : 2010-11 & 2012-13 M/S. Ahilibai Sardessai 301, Lotus Court, M.G. Road, St. Inez Junction, Panaji-Goa-403 001 Pan : Aagfa9044G .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Panaji-Goa. ……""यथ" / Respondent Assessee By : Shri D.E. Robinson, Ar Revenue By : Shri Sourabh Nayak, Sr. Dr सुनवाई क" तार"ख / Date Of Hearing :22.02.2022 घोषणा क" तार"ख / Date Of Pronouncement : 31.03.2022

…erate the requisite satisfaction with regards to the correctness of the aforesaid claim of the assessee. At this stage, we may herein observe, that the Hon'ble High Court of Bombay in the case of CIT v. Sociedade De Fomento Industrial Pvt. Ltd. (No. 2) (2020) 429 ITR 358, referring to the facts involved in the case before it, had observed, that though the M/s. Ahilibai Sardessai Vs. ACIT, Circle 1(1) Assessing Officer had discussed the provisions of section 14A(1) of the Act, but had not justified how the expenditure which the assessee had incurred during the relevant year related to the income not forming part…

Shree Balaji Engicons Pvt. Ltd, Jharsuguda vs. Principal CIT, Sambalpur

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

…enditure would then be considered as incurred in respect of other income which is to be treated as part of the total income. (Emphasis Supplied] • The Hon'ble Bombay High Court in the case of CIT v. Sociedade De Fomento Industrial (P.) Ltd. reported in [2020] 429 ITR 358 (Bombay) vide order dated 06.11.2020 has held that: "19. Here, on facts, the Tribunal noted that the AD only discussed the provisions of section 14A(l) but has not justified how the expenditure the Assessee incurred during the relevant year related 112 ITA Nos.193-195/CTK/2019 to the income not forming part of its total income. The AO. according…

M/S- Sbep-Gril(Joint Venture), Jharsuguda vs. Principal CIT, Sambalpur

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

…enditure would then be considered as incurred in respect of other income which is to be treated as part of the total income. (Emphasis Supplied] • The Hon'ble Bombay High Court in the case of CIT v. Sociedade De Fomento Industrial (P.) Ltd. reported in [2020] 429 ITR 358 (Bombay) vide order dated 06.11.2020 has held that: "19. Here, on facts, the Tribunal noted that the AD only discussed the provisions of section 14A(l) but has not justified how the expenditure the Assessee incurred during the relevant year related 112 ITA Nos.193-195/CTK/2019 to the income not forming part of its total income. The AO. according…

M/S- Rawat Balaji (Joint Venture), Jharsuguda vs. Prilncipal, CIT, Sambalpur

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

…enditure would then be considered as incurred in respect of other income which is to be treated as part of the total income. (Emphasis Supplied] • The Hon'ble Bombay High Court in the case of CIT v. Sociedade De Fomento Industrial (P.) Ltd. reported in [2020] 429 ITR 358 (Bombay) vide order dated 06.11.2020 has held that: "19. Here, on facts, the Tribunal noted that the AD only discussed the provisions of section 14A(l) but has not justified how the expenditure the Assessee incurred during the relevant year related 112 ITA Nos.193-195/CTK/2019 to the income not forming part of its total income. The AO. according…