2013 (10) TMI 1001

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....bad [hereinafter referred to as CIT(A)] erred in confirming that the action of Assessing Officer in recomputing book profit u/s.115JB by adding a sum of Rs.28,77,242/- being interest expenditure disallowed in regular assessment u/s.14A. 2. At the outset, ld.AR Mr.S.N.Soparkar has made a statement at Bar that the additional ground raised in respect of the re-opening of the assessment is not pressed. He has also clarified that in the grounds of appeal, there are several sub-grounds which revolve around the main issue as raised and reproduced above. 3. Vide an order u/s.143(3) r.w.s. 147 of the I.T.Act dated 30/03/2007, the Assessing Officer has issued a show-cause notice in the following manner:- "In connection with notice u/s.148 da....

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....it for the purpose of section 115JB of the I.T.Act. Although this observation was made by the Learned CIT(Appeals) in paragraph No. 2.3.1, but the view was taken in favour of the Revenue, therefore the assessee being aggrieved is now in appeal. With this brief background, our attention was drawn on a decision of ITAT Delhi Bench "C" pronounced in the case of Goetze (India) Ltd. reported at [2009]32 SOT 101 (Delhi), wherein paragraph No.4.6, it was held as under:- "4.6 We have considered the facts of the case and rival submissions. We may at the outset consider the provisions contained in cl. (f) of the Expln. to s. 115JA and sub-s. (1) of s. 14A of the Act. Under the aforesaid cl. (f), the amount of expenditure relatable to any income to....