TMI Blog2014 (2) TMI 1245X X X X Extracts X X X X X X X X Extracts X X X X ..... n of said rule. Nevertheless and more so, therefore, a need would arise to ascertain the disallowance of expenditure, if any, and if so, to what extent be made for the assessee to earn tax exempt income. Since this exercise was not done previously, the Tribunal was within its right to require the Assessing Officer to do so. It is true that in a given case the Tribunal could also either on the basi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration:- Whether on the facts and in the circumstances of the case, the Tribunal was right in law in not deciding the matter when all the facts are there before it and instead sending the matter back to the Assessing Officer for fresh decision and thus starting the new round of litigation with damaging consequences to the assessee? 2. The issue pertains to disallowance of expenditure fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... previously approved by the Bombay Tribunal in case of Income Tax Officer vs. Daga Capital Management Pvt. Ltd. reported in [2009] 312 ITR(AT) 1 (Mumbai), which subsequently, however, was overruled by the Bombay High Court in the case of Godrej and Boyce Mfg. Co.Ltd. vs. Deputy Commissioner of Income-Tax and another reported in [2010] 328 ITR 81 (Bom). 4. He submitted that proviso to rule 8A of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... done previously, the Tribunal was within its right to require the Assessing Officer to do so. It is true that in a given case the Tribunal could also either on the basis of the materials already on record or when need be, after calling remand report, itself undertakes such an exercise within the parameters of law. Nevertheless, even in the facts of the case, the Tribunal found it more appropriate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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