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2023 (3) TMI 1197 - DELHI HIGH COURTDisallowance u/s 14A - Whether or not the calculation of disallowable expenses made by the respondent/assessee, on its own, u/s 14A as correct? - assessee had earned dividend income which was excluded from total income in terms of Section 10(34) - Tribunal has accepted the method of calculation put forth by assessee, and observed that the method adopted in the AY in issue, was also followed, as well as accepted by the appellant/revenue, in other assessment years - HELD THAT:- Tribunal invoked the rule of consistency as enunciated by the Supreme Court in Radha Soami Satsang v Commissioner of Income Tax [1991 (11) TMI 2 - SUPREME COURT] and, thus, dismissed the appeal of the revenue. Assessee had also filed cross-appeal against the order of CIT (Appeals) to the extent that he had upheld the disallowance of amount equivalent to Rs 1.97 crores on account of administrative personal expenses. Tribunal via impugned order dismissed the appeal of the respondent/assessee. As pertinent to note that the appellant/revenue took recourse to provisions of Rule 8D of the Income Tax Rules, 1962 to support its plea that the disallowance had to be calculated through different methodology. Tribunal held that the said rule was applicable only from AY 2008-09. Revenue, does not dispute this aspect of the matter, in view of the judgment rendered by the Supreme Court in Commissioner of Income Tax 5 Mumbai Vs. Essar Teleholdings Ltd. [2018 (2) TMI 115 - SUPREME COURT] We are not inclined to interfere with the impugned order, as according to us, no substantial question of law arises for consideration.
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