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2022 (7) TMI 898 - ITAT HYDERABADDisallowance u/s 14A r.w.r. 8D - CIT-A deleted the addition - HELD THAT:- We find the learned CIT (A) deleted the addition the reasons of which are already reproduced in the preceding paragraphs. We find the Finance Act 2022 has drastically amended the provisions of section 14A and a Coordinate Bench of the Tribunal has held the amendment to be retrospective in nature i.e. w.e.f. 1.4.1962. We, therefore, in the interest of justice deem it fit and proper to restore the issue to the file of the Assessing Officer with a direction to decide the issue afresh in the light of the amendments to the provisions of section 14A by the Finance Act, 2022 and decide the issue as per fact and law after giving due opportunity of being heard to the assessee. We hold and direct accordingly. The grounds raised by the Revenue are accordingly allowed for statistical purposes. Addition u/s 2(22)(e) - inter corporate deposit (ICD) from its subsidiary company - CIT (A) has directed the Assessing Officer to delete the deemed dividend u/s 2(22)(e) - HELD THAT:- Although the submission of the assessee is that it is a typographical error, however, we find neither the assessee nor the Assessing Officer moved any rectification application u/s 154 of the I.T. Act before the learned CIT (A) for rectification of the typographic error. We deem it fit and proper to restore the issue to the file of the Assessing Officer with a direction to decide the issue afresh in the light of the CBDT Circular No.19/07 dated 12.06.2017 and as per fact and law. Needless to say the Assessing Officer while deciding the issue shall give due opportunity of being heard to the assessee. We hold and direct accordingly. Grounds raised by the Revenue on this issue are accordingly allowed for statistical purposes.
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