2015 (2) TMI 1302

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....ant by : Ms.Pallavi Gudka Respondent by : Shri Pavan Kumar Birla ORDER B.R.Baskaran,   The assessee has filed this Misc. Application pointing out that the Ground No.2 raised by the assessee in assessment year 2007-08 has not been disposed of by the Bench while passing the order on 29.10.2014. 2. We heard the parties and perused the order. We notice merit in the present petition....

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.... AO has computed the disallowance u/s 14A of the Act against the dividend income of Rs. 3,66,382/- received by the assessee by application of provisions of Rule 8D of the IT Rules, 1962. The present assessment year being assessment year 2007-08, the provisions of Rule 8D shall not be applicable as held by the Hon'ble Jurisdictional High Court in the case of Godrej Boyce Mfg. Co. Ltd (328 ITR 81). ....