2023 (1) TMI 1434

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....Y BHATTACHARYYA Mr. Om Narayan Rai, Adv. Mr. Prithu Dudhoria, Adv. For the Appellant Mr.J.P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. For the Respondent ORDER GA/1/2022 The Court : We have heard respective counsel for the either side. There is a delay of 577 days in filing the appeal. Upon perusal of the affidavit filed in support of the condone delay petition, we find that suffici....

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....cular no. 5/2014 dated 11.02.2014 which say that it is not necessary that exempt income should necessarily be included in a particular years income for disallowance to be triggered? The short issue which falls for consideration is whether the Assessing Officer has recorded his satisfaction while disallowing a sum of Rs. 15,60,72,830/- under Section 14A of the Act and invoking Rule 8D of the Inc....

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....and it will be in those cases where the assessee in his return has himself apportioned but the assessing officer did not accept the apportionment. In any event, the assessing officer will have to record its satisfaction to the said effect. On perusal of the assessment order dated 28.3.2015 passed under Section 143[3] of the Act we find that the assessing officer was not recorded any satisfaction f....