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M/S Godrej Investment Pvt. Ltd. (Now ... vs Dcit 14(1)(2), Mumbai on 26 November, 2021

However, it is seen that though Rule 8D is not applicable, but the Assessing Officer is duty bound to make the disallowance under Section 14A after considering all the facts and circumstances of the case as observed by Hon'ble Bombay High Court in the aforementioned case of Godrej & Boyce Mfg. Pvt. Ltd. (supra). Therefore, keeping in view the facts and circumstances of the case, we consider it just and proper to restore this issue to the file of Assessing Officer to consider this issue raised in the present appeal denovo as per the provisions of law after giving the assessee a reasonable opportunity of hearing. Therefore, we restore this issue to the file of Assessing Officer to reconsider and re-adjudicate the same after giving the assessee a reasonable opportunity of 7 ITA No.3843/Del/2011 C.O. No.330/Del/2011 hearing. We direct accordingly. In the result, the ground No.2 raised by the assessee is allowed for statistical purposes in the manner aforesaid."
Income Tax Appellate Tribunal - Mumbai Cites 22 - Cited by 276 - Full Document
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