2016 (3) TMI 1098

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....ndent : Mr. Suresh Kumar ORDER P. C. 1. This Appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961 ( the "Act") takes exception to the order dated 10th July, 2013 passed by the Income Tax Appellate Tribunal ("Tribunal"). The impugned order dated 10th July, 2013 relates to Assessment Year 2008-09. 2. The appeal is admitted on the following substantial question of la....

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....red to earn exempt income out of the total expenditure of Rs. 2.12 crores incurred. This disallowance of expenditure was worked out in the proportion of taxable income to exempt income of the appellant assessee. 5. It was the appellant's case before the authorities that in terms of Section 14A of the Act, before Rule 8D of the Income Tax Rules 1961 (Rules) can be applied to disallow expendi....

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....ce upon the decision of the Court of its coordinate Bench in J. K. Investors (supra). However, thereafter the impugned order does not deal with the appellant's reliance upon the decision of the Tribunal in J.K. Investors (supra) while dismissing the appellant-assessee's appeal before it. In fact the impugned order of the Tribunal ought to have dealt with its decision in J. K. Investors (su....