2016 (1) TMI 1386

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....RDER Challenging the order dt.27.10.2009 of CIT-4, Mumbai, the assessee has filed the present appeal. There was delay of 430 days in filing the appeal. The director of the company, S. Raja had filed an application along with an affidavit in that regard. It was stated that the order of the First Appellate authority (FAA) was received by one of the employees, that he did hand over the relevant pa....

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.... preferring the appeal, is condoned. The assessee company, engaged in the business of investment, filed its return of income on 28.10.05, declaring total income of Rs. 15.87lakhs. Later on, a revised return was filed on 27.12.2005 for loss of Rs. 2.12 lakhs. The AO completed the assessment u/s. 143(3) of the Act on 28. 12. 2007,determining the income of the assessee at Rs. 27,75,130/-. 2.Effect....

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....pplicable and disallowance had to be made accordingly. 4.Before us, the Authorised Representative(AR)stated that the decision of Daga Capital Manage -ment(supra), had been reversed by the judgment of Godrej and Boyce (328 ITR 81), that provisions of Rule 8D were not applicable for the AY 2005-06.He referred to the case of Godrej Agrovet Ltd.(Income Tax Appeal No.934 of 2011 dt.8.11.2013) .He al....

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....ourt in the matter of Godrej Boyce. We find that the Hon'ble Court has in the case of Godrej Agrovet Ltd.(supra)has laid down certain guidelines with re gard to disallowance to be made u/s.14A of the Act r.w. rule 8D.In our opinion, in the interest of justice the matter should be restored back to the file of the AO for fresh adjudication. He is directed to decide the issue after affording a reason....