TaxTMI 
TaxTMI 
2017 (1) TMI 1612
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....aken by the revenue are as under:- Grounds of revenue's appeal in ITA No. 301/JP/2016. "(1) Whether on the facts and in the circumstances of the case and in law the ld. CIT(A) has erred in deleting the disallowance of Rs. 1,44,82,686/- made by AO under the provisions of section 14A r.w. rule 8D of the I.T. Rules." "(2) Whether on the facts and in the circumstances of the case and in law the ld. CIT(A) has erred in deleting the disallowance of Rs. 2,71,194/- made by the AO on delayed payment of employee contribution of ESI and PF." Grounds of revenue's appeal in ITA No. 302/JP/2016. "(1) Whether on the facts and in the circumstances of the case and in law the ld. CIT(A) has erred in deleting the disallowance ....
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.... orders. On query from the Bench, it was submitted that no stay has been granted by the Hon'ble Rajasthan High Court against the said earlier orders passed by the coordinate benches in assessee's own case against which the department has filed further appeals before the Hon'ble Rajasthan High Court. 3. In respect of disallowance under section 14A r.w. Rule 8D of the Act, the ground which is common in all the three years, the Coordinate bench in ITA No.230/JP/2015 & 916/JP/2014 dated 4.02.2016 has decided the matter in favour of the assessee. The relevant findings are contained as under:- 5.1 We have heard the rival contentions, judicial pronouncements and material available on record. Following facts clearly emerge from the reco....
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....or acquisition of mutual funds. (vi) Hon'ble Delhi High Court in Taikisha (supra) held that to proceed further for disallowance u/s 14A r.w. rule 8D the determination amount is derived after examination of the accounts and rejection if assessee's claim or explanation. We find that ld. AO rather accepts that the impugned investments in JV equity and mutual funds is out of own funds of assessee, nevertheless AO proceeds for disallowance in this behalf. The second aspect is there appears to be non scrutiny of the relevant aspects and propositions of the ld. AO. (vii) Ld. CIT(A) has considered the issues, relevant facts, assessee's explanation and judicial precedents in right perspectives and by detailed findings dislodged the....
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....of all these facts and circumstances and in view of the various judicial pronouncements discussed above, we are of the considered view that assessee is a developer and eligible for deduction under Section 80IA(4) even after Explanation added in Section 80IA(4) by Finance Act, 2007 and amended by Finance Act, 2009 with retrospective effect from 1.4.2000. Accordingly we allow this ground of the assessee and direct the department to allow the deduction under Section 80IA(4) to the assessee." 6. We have considered the rival submissions and perused the material available on record including the orders passed by the Coordinate Benches in earlier years. Admittedly, there are no changes in the facts and circumstances of the case nor is there any....