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2016 (11) TMI 1152 - ITAT MUMBAIDisallowance u/s.14A - Held that:- On appraisal of the order passed by the Assessing Officer we found nothing ambiguity for the application of the Rule 8D of the Act for calculation of the expenses to earn the exempt income. The Assessing Officer has assessed the expenditure in view of the facts and circumstances of the case wherein no specific expenditure has been shown to be explained to earn exempt income. Therefore, in the said circumstances the CIT(A) has rightly confirmed the order of the Assessing Officer on this issue which does not require to be interfere with at this appellate stage. Addition of income from other sources - Held that:- CIT(A) has raised the issue with regard to the ownership of the property and held that the property was owned by the firm therefore, on account of the sale of the said property the CIT(A) has treated the sale proceed as income from other sources. Anyhow, this issue has not been properly adjudicated on the basis of the ownership of the property. Utilization of land and sale of land is quite different. Accordingly the income of assessee is required to be assessed. It is not a case of double taxation when the income of the assessee was assessed on the basis of utilization and sale of land. Since the matter of controversy has not been adjudicated by the CIT(A) on the basis title, therefore, we set aside the finding of the CIT(A) in this regard and direct the Assessing Officer to decide this issue afresh in view of the said observations after giving an opportunity of being heard to the assessee in accordance with law. Accordingly, these issues are decided in favour of the assessee .
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