TMI Blog2012 (11) TMI 932X X X X Extracts X X X X X X X X Extracts X X X X ..... file of the Assessing Officer - ITA No. 6375 to 6377/Mum/2010 - - - Dated:- 18-1-2012 - SHRI G.E. VEERABHADRAPPA AND SHRI D.K. AGARWAL, JJ. Appellant by : Shri K.V. Beswal Respondent by : Shri C.G.K. Nair ORDER PER D.K.AGARWAL (JM) All these appeals for the Assessment Years 2005-06, 2006-07 and 2007-08 are directed against the common order passed by the ld.CIT(A) dated 26.7.2010 for the assessment years 2005-06 to 2008-09. Since facts are identical and issues involved are common, all these appeals are disposed of by this common order for the sake of convenience. 2. Briefly stated facts of the case are that the assessee company is engaged in the business of trading of Painting, Sculptures and other works of A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment year 2007-08 Rs.1,54,964/-. 3. On appeal , the ld. CIT(A) while observing that the assessee himself has furnished working of disallowance u/s 14A read with Rule 8D and following the decision of the Special Bench of the Tribunal in Daga Capital Management Pvt. Ltd., 117 ITD 169 (Mum)(SB), upheld the disallowance made by the AO. 4. Being aggrieved by the order of the ld. CIT(A), the assessee is in appeal before us. 5. The common ground No.1 in all these appeals extracted from assessment year 2005-06 reads as under : 1. On the facts and circumstances of the case, the ld. CIT(A) erred in confirming order of the AO passed u/s 143(3) r.w.s.153C which is bad in law void, ab-initio. 6. At the time of hearing, the ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erein Their Lordships after considering the decision of the Tribunal in Daga Capital Management Pvt. Ltd. (supra), while holding that the provisions of sub-sections (2) and (3) of sec.14A of the Act are constitutionally valid have held vide placitum 88(vi) appearing at page 138 of the 328 ITR as under : (vi) Even prior to Assessment Year 2008-09, when Rule 8D was not applicable, the Assessing Officer has to enforce the provisions of sub section (1) of section 14A. For that purpose, the Assessing Officer is duty bound to determine the expenditure which has been incurred in relation to income which does not form part of the total income under the Act. The Assessing Officer must adopt a reasonable basis or method consistent with all the re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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