TMI Blog2012 (7) TMI 930X X X X Extracts X X X X X X X X Extracts X X X X ..... 18-7-2012 - SHRI G.E. VEERABHADRAPPA, PRESIDENT AND SHRI I.P. BANSAL, JUDICIAL MEMBER Appellant by : Mr. Mayank Priyadarshi Respondent by : Mr. Vijay Mehta ORDER PER I.P. BANSAL, J.M. The present appeal preferred by the Revenue, is directed against the impugned order dated 9th December 2010, passed by the learned Commissioner (Appeals) X, Mumbai, for assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of income filed by the assessee. 3. During the course of appellate proceedings, it was submitted before the learned Commissioner (Appeals) that the Assessing Officer has ignored the scientific method of apportionment of expenditure between share trading and other income for the purpose of calculating rebate under section 88E, and also did not take into account the impact of additions made in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner (Appeals) has wrongly granted the relief to the assessee by giving a direction to the Assessing Officer to allow the rebate up to the amount of ₹ 3,73,10,662. 5. On the other hand, the learned Counsel for the assessee submitted that the difference, if any, is mainly on account of allocation of expenditure. The assessee has adopted a scientific method for allocation of expenditur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e A.O. Amount (Rs.) As claimed before CIT(A) Amount (Rs.) 1. Share Trading Income 13,07,10,053 13,07,10,053 13,07,10,053 2. Addition u/s 94(7) 2,76,697 2,76,697 3. Less: Exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee. In this view of the situation and after hearing both the parties and considering their rival submissions, we decline to interfere in the relief granted by the learned Commissioner (Appeals). We find no merit in the Revenue s appeal. Consequently, the ground raised by the Revenue is dismissed. 7. In the result, Revenue s appeal is dismissed. Order pronounced in the open Court o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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