2013 (7) TMI 1001

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....nst the order of the Ld. CIT(A)-16, Mumbai dt.6.6.2011 pertaining to A.Y. 2006-07. 2. The Revenue has raised 4 substantive grounds of appeal. Ground No. 1,2 & 3 relate to applicability of provisions of Sec. 14A r.w. Rule 8D. Ground No. 4 is consequential to the outcome of the grievance raised by ground No. 1 to 3. 3. During the course of the scrutiny assessment proceedings, the Assessing Officer....

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.... disallowance as per Rule 8D. However, the Ld. CIT(A) was also of the firm opinion that some expenses should have been allocated for earning the exempt income. The Ld. CIT(A) noted that in the immediately preceding assessment year i.e. 2005-06 his predecessor has confirmed the addition of ₹ 5 lakhs. Taking a leaf out of the said finding of his predecessor, the Ld. CIT(A) directed the AO to r....