2015 (2) TMI 1263 - BOMBAY HIGH COURT

Disallowance u/s. 14A read with Rule 8D - tribunal restoring the issue of disallowance u/s. 14A to the file of the Assessing to decide afresh - Held that:- Tribunal has merely followed the decision of this Court in Godrej & Boyce Manufacturing Co. Ltd. v/s. DCIT [2010 (8) TMI 77 - BOMBAY HIGH COURT] directing the Assessing Officer to work out the disallowance on a reasonable basis and not under Rule 8D under the Income Tax Rules for the Assessment Year 200708. The Tribunal has merely followed the decision of the jurisdictional High Court and no fault can be found with the same. Accordingly, no substantial question of law arises in Question (a). Hence dismissed.

Disallowance u/s 14A to be added to arrive at book profit for purposes of Section 115JB - MAT computation - Held that:- The impugned order of the Tribunal followed its decision in M/s. Essar Teleholdings Ltd. v/s. DCIT [2013 (5) TMI 116 - ITAT MUMBAI] to held that an amount disallowed under Section 14A of the Act cannot be added to arrive at book profit for purposes of Section 115JB of the Act. The Revenue's Appeal against the order of the Tribunal in M/s. Essar Teleholdings (supra) was dismissed by this Court [2015 (5) TMI 810 - BOMBAY HIGH COURT] - For , question (b) does not raise any substantial question of law.