TMI Blog2014 (3) TMI 770X X X X Extracts X X X X X X X X Extracts X X X X ..... as bearing no relation with the income not forming part of the total income, or has allocated the expenditure related, as the common administrative expenditure, it would have to be necessarily verified by the AO in terms of sections 14A(2) and 14A(3) of the Act, and he cannot proceed to mechanically apply r.8D – relying upon GODREJ AND BOYCE MFG. CO. LTD. Versus DEPUTY COMMISSIONER OF INCOME-TAX A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reinafter) for the assessment year (A.Y.) 2008-09 vide order dated 16.12.2010. 2. Opening the arguments for and on behalf of the assesse, it was submitted by the ld. Authorized Representative (AR), the assessee s counsel, that the only issue arising in the instant appeal is the disallowance u/s.14A read with Rule 8D of the Income Tax Rules, 1962, effected in the sum of Rs.15,85,470/-. The asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oyce Mfg. Co. Ltd. vs. Dy. CIT [2010] 328 ITR 81 (Bom) and Maxopp Investment Ltd. vs. CIT [2012] 347 ITR 272 (Delhi). 3. We have heard the parties, and perused the material on record. As discussed in detail by the Tribunal in the case of AFL (P.) Ltd. vs. Asst. CIT [2013] 28 ITR (Trib) 263 (Mum), and with reference to the afore-cited decisions only, the initial and the primary onus to show t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , and the accounts are generally not aligned activity-wise. Even so, the resources may not be dedicated solely for investment activity, which involves decision making, located generally at the higher echelons of the management, so that expenses on various common activities, viz. salary, rent, telephone, electricity, conveyance, et. al. have to be necessarily apportioned on some defined basis, and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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