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1 - 5 of 5 (0.17 seconds)Section 14A in The Income Tax Act, 1961 [Entire Act]
Section 80IB in The Income Tax Act, 1961 [Entire Act]
Godrej & Boyce Mfg.Co.Ltd. Mumbai vs Dy. Commissioner Of Income Tax on 12 August, 2010
10. At the time of hearing the ld. Counsel for the assessee submits
that that the Tribunal on the issue of disallowance u/s 14A has set aside
the same to the file of the A.O. He further submits that against the said
order the assessee has filed an appeal before the Hon'ble jurisdictional
High Court and the Hon'ble jurisdictional High Court in Income Tax
Appeal No. 1824 of 2009 order dtd. 16-11-2010 has restored the matter
to the file of the A.O. to decide the same in accordance with law laid
down in the case of Godrej Boyce Mfg. Co. Ltd. Vs. Dy. CIT (2010) 328
ITR 81 (Bom). He further submits that pursuant to the order of the
Hon'ble jurisdictional High Court, the A.O. has passed an order giving
effect to the order of the Hon'ble jurisdictional High Court wherein the
A.O. held that 5% of dividend income as reasonable disallowance towards
expenses incurred to earn dividend income and copy of the said order is
appearing at page 75 of the assessee's paper book. He further submits
that against the said order passed by the A.O., the assessee is not in
appeal and, therefore, the grounds raised by the assessee and Revenue
become infructuous which was not objected to by the ld. D.R. in respect
of the grounds raised by the assessee as well as in Revenue's appeal.
Section 10 in The Income Tax Act, 1961 [Entire Act]
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