TMI Blog2017 (4) TMI 1031X X X X Extracts X X X X X X X X Extracts X X X X ..... SOPARKAR, CAVEATOR ORAL ORDER (PER : HONOURABLE Mr. JUSTICE M.R. SHAH) Feeling aggrieved and dissatisfied with the impugned judgment and order dated 25th April 2016 passed by the Income Tax Appellate Tribunal, Delhi Bench I New Delhi in I.T.A No. 196/DEL/2013 for A.Y 2008-2009 [hereinafter referred to as, the Tribunal ], the Revenue has preferred the present Tax Appeal with the following proposed questions of law : [1] Whether on the facts and circumstances of the case and in law, the I.T.A.T was justified in directing to delete the addition of ₹ 238.16 Crores holding that overseas Associated Enterprise can be accepted as tested party when there is no instances of transactions between unrelated parties ? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther on the facts and circumstances of the case and in law, the Tribunal on account of disallowance of claim under Section 80IB/80IC of the Act, when [i] selling and distributions expenses and other common expenses were not properly appropriated amongst the Units eligible for deduction under Section 80IB/80IC; [ii] when Form 10CCB, as prescribed under Rule 18BBB (2) r.w.s 80IB and 80IC were not submitted with the Tax Audit Report; [iii] when separate Books of accounts were not maintained for the eligible Units were not recorded on ERP/SAP at Arm's Length Price [ALP]; [iv] when other income do not qualify for deduction under Section 80IB/80IC of the Act ? Having heard learned advocate Shri K.M Parikh appearing on behalf of the Reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for earning exempted dividend income by making fresh investments to the tune of ₹ 406 Crores out of interest bearing funds during the year ? In so far as proposed Question no. 5 ie ., Whether on the facts and circumstances of the case and in law, the Tribunal was justified in deleting the addition of ₹ 7,40,66,105/- made under Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules, 1962 both for normal taxation purpose and taxation under Section 115JB of the Act for earning exempted dividend income by making fresh investments to the tune of R. 406 Crores out of interest bearing funds during the year is concerned, the same has been dealt with by the learned Tribunal in para 51 of its decision ..... X X X X Extracts X X X X X X X X Extracts X X X X
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