2020 (2) TMI 1233

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....ns of law :- (i) Whether on the facts and in the circumstances of the case, the order of the Hon'ble ITAT in dismissing the Miscellaneous application without going through the merits of the case is not perverse and the legal issue raised by revenue before it should be reinstated and decided on merits ? (ii) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT is justified in dismissing the Miscellaneous application of the Revenue without discussing the merits ignoring the legislative intent expressed in CBDT's Circular No. 5/2014 dated 11.02.2014, which explicitly states that expenses relatable to earning of exempt income have to be considered for disallowances irrespective of the fact whether any such....

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....e disallowances wa restricted by Ld. CIT (A) to the extent except income earned ignoring the fact that Hon'ble Supreme Court of India in Civil Appeal No. 1423 of 2015 filed by Avon Cycles Ltd. Decided with Maxopp Investment Ltd. And many other cases decided the issue in favour of department ? (vii) Whether on the facts and in the circumstances of the case and in law, Hon'ble ITAT has erred in dismissing the Miscellaneous application and not deciding the merits of the case because order of Ld. CIT Appeal is perverse in holding that it is now 'res integra' that disallowances u/s 14A cannot exceed exempt income, when Supreme Court has upheld the principles of apportionment and department is in SLP on the same issue in the cas....