2010 (3) TMI 930

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....y 16, 2007 of this Tribunal whereby the appeal of the Revenue in I. T. A. No. 1018/Mds/2005 for the assessment year 1996-97 was disposed of along with the assessee's appeal in I. T. A. No. 735/Mds/2005.   The learned Departmental representative has submitted that in paragraph 5 of the impugned order, this Tribunal has held that the issue is a highly debatable one, which cannot be rectified....

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....ified by an order under section 154 dated August 16, 2004. She has thus asserted that the Assessing Officer has only corrected a mistake in computation of total income and has not brought any fresh issue of disallowance under section 14A. On the other hand, learned counsel for the assessee has submitted that the assessee claimed exemption under section 80M with respect to the dividend income. H....

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.... of the assessee on the merits in view of the case law of the Tribunal as cited above. In view of these facts and circumstances of the case, we are of the view that no disallowance under section 14A of the Act can be made on deductions claimed under Chapter VI-A of the Act. Accordingly, we allow the claim of the assessee and disallow the claim of the Revenue." While deciding this issue, this Tr....