2020 (11) TMI 947

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T.NARENDRA PRASAD   APPELLANTS (BY SRI.K.V.ARAVIND, ADV.)   RESPONDENT (BY SRI.MAHESH CHOWDHARY, ADV. FOR SMT.SOUWMYA SRIDHAR, ADV.)   JUDGMENT ALOK ARADHE J., This appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment Year ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....paid is disallowable u/s.14A of the Act?' 2. The facts giving rise to filing of the appeal briefly stated are that the assessee is a non banking financial institution. The assessee filed return of income for the Assessment Year 2007-08 declaring the total loss of Rs. 44,00,286/-. The Assessing Officer concluded the assessment by order dated 30.12.2009 and determined the income of the assessee a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... assessee as well as the revenue were disposed of. Being aggrieved, the revenue is in appeal before us.   3. Learned counsel for the revenue has raised a singular contention that the Tribunal while passing the impugned order has directed the Assessing Officer to decide the issue in view of the law laid down by the Bombay High Court in the case of 'M/S. GODREJ & BOYCE MANUFACTURING CO. LTD.....