2019 (11) TMI 132

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.... filed by the Revenue as well as by the assessee against the order of the CIT(A)-1, Nashik dated 17.01.2017 for the assessment year 2013-14 respectively. 2. First we shall take up the appeal of the assessee in ITA No.2770/PUN/2016 involving the assessment year 2012-13 for adjudication. ITA No.2770/PUN/2016 - A.Y. 2012-13 - By Assessee 3. In this appeal, the solitary issue raised in the grounds relates to the disallowance made u/s 14A of the I.T. Act, 1961 read with Rule 8D(2) of the I.T. Rules, 1962. 4. Briefly stated the relevant facts include that the assessee is engaged in the business of plot trading, land developers and builders. The assessee filed the return of income declaring total income of Rs. 24,29,050/-. During the assess....

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....ssee also furnished a copy of the rectification application dated 25.04.2018 with a prayer to rectify the said order of the Assessing Officer dated 17.10.2016. In this regard, ld. Counsel mentioned that a direction to the Assessing Officer to strictly comply with the direction of the CIT(A) vide the order of the CIT(A) dated 20.09.2016 may be given to the Assessing Officer by the Tribunal now. 9. On hearing both the sides on this issue qua the direction of the CIT(A) in connection with the applicability of the 'principle of proportion', we find the order of the Assessing Officer dated 17.10.2016 does not constitute a speaking order on the said issue. We also noticed that the rectification application filed by the assessee is yet to be act....

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.... 14. Now, we take up the cross appeals filed by the Revenue as well as by the assessee relating to the assessment year 2013-14 for adjudication. ITA No.783/PUN/2017 - A.Y. 2013-14 - By Revenue ITA No.1048/PUN/2017 - A.Y. 2013-14 - By Assessee 15. In these cross appeals, the solitary issue raised by both the assessee and the Revenue relates to the applicability of the provisions of section 14A r.w. Rule 8D(2). 16. In the assessment, the Assessing Officer made addition of Rs. 53,19,966/- [i.e. Rs. 48,19,562/- under clause (ii) of Rule 8D(2) and Rs. 50,403 (sic.) under clause (iii) of Rule 8D(2) of the Rules]. Against the said addition made by the Assessing Officer, the assessee filed an appeal before the CIT(A). 17. The CIT(A) partl....