TMI Blog2015 (6) TMI 141X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot disrespect and disregard the Tribunal's order passed on clear concession from the revenue or department and on facts. No substantial question of law. - Decided against revenue. Disallowance made under section 14A - ITAT deleted the addition - Held that:- Question answered by a Division Bench of this Court in the case of Godrej & Boyce Manufacturing Co. Ltd. V/s. DCIT reported in [2010 (8) TMI 77 - BOMBAY HIGH COURT] - Decided against revenue - INCOME TAX APPEAL NO.1462 OF 2013 - - - Dated:- 22-4-2015 - S.C.DHARMADHIKARI AND A.K. MENON, JJ. For The Appellant : Mr.Arvind Pinto For The Respondent : Mr.Sanjiv Shah P.C. 1. This appeal of the revenue is directed against the order of the Income Tax Appellate T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w, the ITAT was justified in deleting the disallowance made under section 14A of the Act without appreciating that the entire interest bearing funds were wholly and exclusively for its business purpose and only no interest bearing funds were utilized for the impugned investments ? d) Whether on the facts and circumstances of the case and in law, the ITAT was justified in deleting the disallowance made under section 14A of the Act without appreciating the decision of the ITAT Delhi B Special Bench in the case of Cheminvest Limited V/s. ITO (2009) 124 TTJ (Del) (SB) 577 and the decision of the jurisdictional High Court in the case of Godrej Boyce Mfg. Co. Ltd. V./s. DCIT, Range 10(2), Mumbai (2012) 194 Taxman 203 ? 4. Having heard b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... purely on facts would definitely bind the revenue / department and it cannot resile from the same. Merely because the revenue effect or the tax amount is found enormous, we are not required to take a contrary stand. There is sanctity to a judicial process and any Commissioner in hierarchy cannot disrespect and disregard the Tribunal's order passed on clear concession from the revenue or department and on facts. We have repeatedly found that no explanation is provided either in the memo of appeal or during the course of arguments for filing appeals despite such concessions. This trend is disturbing to say the least. The State and the revenue ought to act as a model litigant and not take chances by filing appeals arising from merely fact ..... X X X X Extracts X X X X X X X X Extracts X X X X
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