ACIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE FINVEST LTD., NEW DELHI
In the result, for assessment year 2007-08 the appeal of the assessee as well as Revenue are dismissed
ITA 2364/DEL/2018[2007-08]Status: DisposedITAT Delhi24 Aug 2020AY 2007-08
Bench: Shri O.P. Kant & Shri Kuldip Singh, Judicialmember
Section 143(2)Section 143(3)Section 14A
…ld be made towards exempted income. 3.9 We have heard rival submission of the parties on the issue in dispute. The Hon’ble Bombay High Court in its decision dated 12/-8/2010 in the case of Godrej Boyce and Manufacturing Co Ltd Vs DCIT , Mumbai and Anr. (2010) 328 ITR 8 (Bom) held the Rule 8D of the ‘Rules’ to be prospective from assessment year 2008-09. Further, Hon’ble Supreme Court recently in Civil Appeal No. 2165 of 2012 in the case of CIT-5, Mumbai Vs M/s Essar Teleholding Ltd approved the decision of the Hon’ble Bombay High court in the case of Godrej Boyce and Manufacturing Co .Ltd observing as under: , 9…