2014 (5) TMI 1082

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....he CIT(A) has erred in following the decision of the Hon'ble ITAT, Chandigarh in assessee's own case for the A.Y. 2008-09 where the ITAT followed the decision in the case of DCIT vs. Ind, Swift (order dated 27.07.2012 in ITA No. 1120/Chd/2011) which is before the insertion of rule 8D. 2) Whether on the facts and in the circumstances of the case the CIT(A) has erred in not considering the fact that after insertion of rule 8D w.e.f. A.Y. 2008-09 there is no notional disallowance whereas in the case of DCIT vs. Ind Swift Ltd. there was a finding of notional disallowance. 3) Whether on the facts and in the circumstances of the case the decision of the AO is in consonance with the decision of the Hon'ble Delhi High Court in the c....

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....09. The Tribunal in ITA No.1120/Chd/2011 vide order dated 27.7.2012 in turn relying on an earlier decision of the Chandigarh Bench of the Tribunal in DCIT Vs. Ind Swift Ltd. in ITA No.729/Chd/2009 relating to assessment year 2006-07 - date of order 30.11.2009 held as under: 5. We have heard the rival contentions and perused the record. The only issue arising in the present appeal is in respect of computation of book profits under section 115JB of the Act. The Assessing Officer while computing the said book profits had added back the disallowance worked out under section 14A of the Act of the net profits of the business and computed the tax liability of the assessee company thereafter. We find that the issue in the present case is covered ....