2022 (1) TMI 233

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.... the facts of the case are that the assessee earned exempt income of Rs. 5.42 crore. Disallowance of Rs. 20.00 lakh was suo motu offered u/s. 14A of the Act. The AO did not accept the assessee's contention and proceeded to compute disallowance as per Rule 8D(2) at Rs. 58,29,184/-. The additional amount of Rs. 38,29,184/- was added, which got confirmed in the first appeal. 4. Having heard both the sides and gone through the relevant material on record, we find that similar issue came up for consideration before the Tribunal in assessee's own case for the two immediately preceding assessment years, namely, 2013-14 and 2014-15. The assessment order for the instant year has been identically worded as was done for the earlier years. The....

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....unt not allowed by the DSIR at Rs. 29.00 lakh was held to be ineligible for the weighted deduction u/s. 35(2AB). The ld. CIT(A) confirmed the addition. 9. Having considered the rival submissions and perusing the relevant material on record, we find that similar issue came up for consideration before the Tribunal in assessee's own case for the preceding years. The Tribunal considered this aspect vide para no. 8 of its order by observing that the amendment in the relevant rules came into force only from 01-07-2016 which would not apply to mar the claim of the assessee for the weighted deduction. After considering the facts, the Tribunal granted weighted deduction on the amount not allowed by the DSIR. Since the facts and circumstances of....