2019 (1) TMI 1213

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....ondent P.C.: 1. This appeal under Section 260 A of the Income Tax Act, 1961 (Act), challenges the order dated 17.4.2015 passed by the Income Tax Appellate Tribunal ("the Tribunal" for short). This appeal relates to the Assessment Year 2009-10. 2. Revenue has urged following question of law for our consideration:- "Whether on the facts and circumstances of the case and in law, the Tribu....

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....owed under Rule 8D of the Rules an amount of Rs. 3.55 crore in the aggregate. 4. In appeal, the Commissioner of Income Tax (Appeals) [CIT(A)] confirmed the view of the Assessing Officer on this issue. 5. On further appeal, the Tribunal by its impugned order held that once the assessee has made a suo motu disallownace of expenditure incurred to earn exempt income, then it is incumbent upon th....

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.... will determine the amount of expenditure to be disallowed to earn exempt income as provided in Rule 8D of the Rules, as if he is not satisfied with suo motu disallowance made by the respondent. In fact this interpretation of Section 14A(2) of the Act by the Tribunal has now been taken by the Hon'ble Supreme Court in the case of Godrej & Boyce Manufacturing Co Ltd Vs. Dy. CIT & Anr  [2017....