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2014 (7) TMI 1148 - AT - Income TaxManagement fees (Royalty) received from Kamat Hotels (India) Limited - assessable as income from business OR income from House property - Held that:- Receipts received from KHIL constitute business receipts. See Commissioner of Income-Tax Versus Mohiddin Hotels P. Limited And Another [2005 (9) TMI 46 - BOMBAY High Court] - Decided in favour of assessee. Disallowance u/s 14A read with Rule 8D - Held that:- it is a settled position that when there is no expenditure has been incurred for earning the income which does not part of the total income, then the provisions of section 14A cannot be applied. Considering the above, we are of the opinion that the matter should revisit the file of the AO for applying the principle laid down in the judgment of the jurisdictional High Court in the case of Godrej & Boyce Mfg. Co. Ltd vs. DCIT reported in (2010 (8) TMI 77 - BOMBAY HIGH COURT ) and to decide the issue afresh. AO shall grant a reasonable opportunity of being heard to the assessee. - Decided in favour of assessee for statistical purposes.
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