Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 147 - HC - Income TaxDisallowance u/s 14A read with Rule 8D - whether it be restricted to the extent of exempted income especially when neither Section 14A nor Rule 8D provides for any such restriction? - Respondent – assessee is in the process of being liquidated - HELD THAT:- Tribunal recorded that it had heard the rival submissions, which would mean that both parties were heard - preamble portion of the impugned order shows that none represented the assessee. Since the first respondent – assessee is under liquidation and the Hon'ble Administrator has been appointed and he is also represented through a counsel, we are of the considered view that the Tribunal can decide the matter afresh on merits after giving an opportunity to the Hon'ble Administrator represented by his counsel to put forth their submissions. For such a reason alone, we are inclined to interfere with the impugned order. Above tax case appeal is allowed, the impugned order is set aside and the matter is remanded to the Tribunal.
|