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2016 (7) TMI 570 - AT - Income TaxDisallowance under section 14A - Held that:- Respectfully following the ratio of the decisions in the cases of Joint Investments Pvt. Ltd. (2015 (3) TMI 155 - DELHI HIGH COURT ), we set aside the orders of the authorities below in respect of the disallowance made and sustained by them under section 14A r.w. Rule 8D(2)(iii). We, consequently, restore the matter to the file of the AO for fresh consideration in accordance with the pre-conditions set out in the provisions of section 14A(1) of the Act and Rule 8D(1) of the Rules; in respect of examination of the sufficiency or correctness of the assessee’s claim of suo moto disallowance of ₹ 12,50,000/- having regard to the assessee’s accounts and explanations in this regard and to proceed further to consider Rule 8D(2)(iii) of the Rules only if speaking reasons for non satisfaction are recorded. - Decided in favour of assessee for statistical purposes Disallowance under section 43B - employees contribution to ESIC not deposited before the due date - Held that:- Respectfully following the decision of the Hon'ble Bombay High Court in the case of Ghatge Patil Transports Ltd. (2014 (10) TMI 402 - BOMBAY HIGH COURT), we hold and direct that the disallowance of ₹ 46,519/- under section 43B of the Act is to be deleted since the assessee in the case on hand has admittedly paid the employees contribution to ESIC before the due date for furnishing its return under section 139(1) of the Act for A.Y. 2008-09 which fact has not been disputed or controverted by Revenue. - Decided in favour of assessee
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