2011 (9) TMI 1105

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.... PER D. MANMOHAN, V.P. 1. In this appeal the assessee-company raised the following grounds : 1. "On the facts and in the circumstances of the case and in law, the learned CIT(A)-XXI, Mumbai erred in confirming the disallowance of Rs. 6,70,976/- made by the Assessing Officer u/s. 14A r.w. r. 8D. 2. On the facts and in the circumstances of the case and in law, the learned CIT(A)....

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....s operation, in the case of Godrej & Boyce Mfg. Co. Ltd. vs. DCIT and another (2010) 328 ITR 81 (Bom.) and hence Assessing Officer should be directed to reconsider the amount disallowable under section 14A of the Act without resorting to the procedure prescribed under Rule 8D of the Act. 3. Learned DR admitted that in the light of decision of the jurisdictional High Court (supra) formula provid....

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.... the case of Excide Industries Ltd. vs. Union of India 292 ITR 470 struck down the provisions of section 43B (f) of the Act and hence no disallowance could be made by applying the provisions of section 43B of the Act. 6. Learned CIT(A) observed that the operation of the decision of the Hon'ble Kolkata High Court was stayed by the Apex Court and even otherwise, the issue stands covered by the de....

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....added back the same by applying provisions of section 43B read with section 36(1)(va) and 2 (24) (x) of the Act. 9. On an appeal filed by the assessee learned CIT(A) observed that payments made beyond the date prescribed under the statute are attracted by the provisions of section 2(24)(x) of the Act and accordingly confirmed the action of the Assessing Officer. 10. Before us learned Counsel....