2013 (6) TMI 872

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....ed this appeal to the file of this Bench for the limited purpose of deciding Grounds No II & VI as the same have not been decided when the matter had been disposed off by the ITAT vide its Order dated 28.03.2012. Keeping in view of the mandate, Grounds no II & VI of the original appeal are adjudicated as hereunder: 3. Ground No II of the original appeal relates to the disallowance of ₹ 14,70,263/- made by the AO and the same confirmed by the Ld.CIT(A) against the assessee's claim of deduction u/s 35D. 3.1 The relevant facts are that the assessee claimed ₹ 14,70,263/- u/s 35D of the Act being 1/10 of the expenses relating to rights issue of shares. However, in the assessment completed u/s 143(3) of the Act, the deduction clai....

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....owever, was restored by the Tribunal to the file of the AO for the purpose of quantifying the amount of deduction. As submitted by the learned counsel for the assessee, the AO has already quantified the amount eligible for deduction u/s 35D in assessment year 1999-2000 as per the direction of the Tribunal. We, therefore, direct the AO to allow the deduction claimed by the assessee u/s 35D for the year under consideration keeping in view the expenses eligible for such deduction quantified by him in assessment year 1999-2000. Ground No. 2 of the assessee's appeal is accordingly treated as allowed." We, therefore, in the absence of any differentiating material as regards the facts are brought on record by the revenue, by following the aforem....