TaxTMI 
TaxTMI 
2017 (11) TMI 1127
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Representative ORDER D. Manmohan (Vice-President) 1. These cross-appeals arise out of the order passed by the learned Commissioner of Income-tax (Appeals)-4, Hyderabad and they pertain to the assessment year 2011-12. The appeal filed by the Revenue is barred by limitation by 101 days. At the time of hearing, the learned counsel appearing for the assessee submitted that the tax effect being les....
X X X X Extracts X X X X
X X X X Extracts X X X X
....licability of the provisions of section 14A of the Act. 3. During the course of assessment proceedings the Assessing Officer, upon detailed examination, disallowed the claim of exemption under section 80-IB(10) of the Act, with regard to the income earned from Emerald Park Annex Project, on the ground that each unit exceeded the area of 1,500 square feet. In fact, the Assessing Officer relied upo....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rovisions of section 14A of the Act, the learned counsel's contention is that it had not earned any income, which do not form part of total income, from the investment during the year. He relied upon the order of the Income-tax Appellate Tribunal, Hyderabad Benches on this issue wherein it was held that in the absence of any exempt income, the provisions of section 14A read with rule 8D cannot....