2017 (10) TMI 1447

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....t : Shri Sudhir Sehgal ORDER PER ANNAPURNA GUPTA, A.M. : This appeal filed by the Revenue has been preferred against the order passed by the Ld. Commissioner of Income Tax (Appeals) -5, Ludhiana (hereinafter referred to as 'CIT(Appeals)') dated 6.1.2017 relating to assessment year 2013-14. 2. The only issue in the present appeal pertains to disallowance made u/s 14A of the Income Tax A....

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....3 and deleted the disallowance made. 4. Aggrieved by the same, the Revenue has come up in appeal before us, raising the following grounds: 1. That CIT(A) while holding that no disallowance u/s 14Acanbe made if there is no tax free income earned during the year, has erred by ignoring the CBDT circular no.5/2014 dated 1stFeb 2014 which states that disallowance of expense for earning exem....

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....le Bombay High Court in the case of Godrej & Boyce Vs. DCIT has held rule 8D as prospective upholding its constitutionality. 6. The Ld. counsel for assessee, on the other hand relied upon the order of the Ld.CIT(Appeals) . 7. We have heard both the parties. We find no infirmity in the order of the Ld.CIT (Appeals). The Ld. CIT (Appeals) has deleted the disallowance following the order of the....