TMI Blog2010 (12) TMI 1222X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee is directed against the order of the Ld. Commissioner of Income Tax (Appeals) dated 08.12.2009 pertaining to assessment year 2006-07. 2. The issue raised is that Ld. Commissioner of Income Tax (Appeals) erred in confirming Assessing Officer s disallowance of an amount of ₹ 1,13,158/- u/s 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962. 3. Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on ble High Court has overruled tribunal decision of M/s Daga Capital Management P. Ltd. Accordingly, respectfully following the precedent, we remit the issue to the files of the Assessing Officer to quantify the reasonable amount. We make it clear as held by the Hon ble Bombay High Court, Rule 8D shall not be applicable for the assessment year 2006-07. Needless to add that the assessee should be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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