2016 (12) TMI 361

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....e respondent ORDER P. C. 1. This appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 19th July, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 19th July, 2013 relates to Assessment Year 2008-09. 2. Mr. Murlidhar, learned Counsel appearing for the assessee urges only the following reframed question of law for our ....

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....t. In the above view, the respondent offered disallowance of expenditure under Section 14A of the Act to the tune of Rs. 5.46 crores. The Assessing Officer did not accept the same and in terms of Rule 8D of the Income Tax Rule, worked out the total disallowance at Rs. 71.04 crores. The respondent assessee pointed out that the reserve available with it at the beginning of the year was Rs. 9339 cror....