2019 (4) TMI 508

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... assessment years 2013-14 and 2014-15 have been filed by the assessee against the orders of Commissioner of Income Tax (Appeals)-1, Aurangabad for the respective assessment years. Both the impugned orders are of even date i.e. 19-03-2018. Since, the issue raised in both the appeals is identical, these appeals are taken up together for adjudication and are disposed of vide this common order. 2. T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... AR asserted that the Hon'ble Supreme Court of India in the case of Godrej & Boyce Manufacturing Company Limited Vs. Deputy Commissioner of Income Tax & Anr. reported as 394 ITR 449 has held that recording of satisfaction u/s. 14A(2) and (3) is a pre-condition before invoking the provisions of Rule 8D. 4. Per contra, Shri Rajesh Gawali representing the Department vehemently defended the impugned....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nder the Act or the Rules. The manner of recording satisfaction by the Assessing Officer whether it conforms to the provisions of section 14A is a subjective assessment. The basic requirement is that the Assessing Officer should express in his satisfaction the reasons for disagreeing with assessee qua suo-moto non disallowance/insufficient disallowance of expenditure incurred towards earning incom....