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2016 (11) TMI 433 - ITAT MUMBAIRevision u/s 263 - disallowance 14A - Held that:- The Revenue invoked Section 263 of the Act by issuing notice dated 17-01-2013 u/s 263 of the Act post appellate order passed by the learned CIT(A) on 19- 12-2012 which was also on the same issue of disallowance of expenditure under Section 14A of the Act read with Rule 8D of Income Tax Rules, 1962 in relation to earning of income which does not form part of the total income, which was earlier adjudicated by learned CIT(A) vide orders dated 19-12-2012 which in our considered view is not permissible with respect to the same issue of disallowance u/s 14A read with Rule 8D of Income Tax Rules, 1962. The learned counsel for the assessee rightly relied on the decisions/judgment in this regard which are cited in preceding para’s . Keeping in view our detailed discussions and reasoning, we hereby order quashing of the revisionary order passed by learned CIT dated 28-03-2014 u/s. 263 of the Act proposing to set aside assessment order dated 21.12.2011 passed by the AO u/s. 143(3) of the Act for making de-novo assessment.
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