TMI Blog2013 (10) TMI 695X X X X Extracts X X X X X X X X Extracts X X X X ..... ble and acceptable method of apportionment - Following decision of Maxopp Investment Ltd. & Others Versus Commissioner of Income Tax [2011 (11) TMI 267 - Delhi High Court] - Decided against assessee. - I.T.A .No. 6096/Del/2012 - - - Dated:- 11-10-2013 - Shri R. S. Syal And Smt. Diva Singh,JJ. For the Petitioner :Sh. Tarandeep Singh, CA. For the Respondent : Sh. Yogesh Kumar Verma, CIT. DR ORDER Per R. S. Syal, AM. This appeal by the assessee is directed against the order passed by the CIT(A) on 28.9.2012 in relation to the AY 2008-09. 2. The only issue raised in this appeal is against the sustenance of disallowance of Rs.51,12,715/- u/s 14A of the Act. Briefly stated the facts of the case are that the assessee is enga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ule 8D is applicable from the AY 2008-09. Similar view was earlier expressed by the Hon'ble Bombay High Court in Godrej Boyce Mfg. Co. Ltd. Vs. DCIT (2010) 328 ITR 81 (Bom). In view of these judgments, it is apparent that presently the provision of section 14A are applicable. 4. The objection of the ld. AR that since the AO did not categorically record any satisfaction about the incurring of expenses in relation to exempt income and hence the application of section 14A be annulled, is devoid of merits. We find that, the AO did embark upon this issue and took assistance of relevant judgment/orders while making the disallowance under section 14A. Even otherwise, the ld. CIT (A) has elaborately dealt with this issue by clearly noticing tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inus with that of the ITO,..... Even otherwise an appellate authority while hearing appeal against the order of a sub-ordinate authority has all the powers which the original authority may have in deciding the question before it subject to the restrictions or limitation, if any, prescribed by the statutory provisions. In the absence of any statutory provision the appellate authority is vested with all the plenary powers which the sub-ordinate authority may have in the matter.' In view of this legal position emanating from the above discussed judgments of the Hon'ble Summit court, it is patent that the argument about the non-recording of satisfaction about the incurring of expenses in relation to exempt income does not hold water. 6. The l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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