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TMI Blog2017 (8) TMI 410X X X X Extracts X X X X X X X X Extracts X X X X ..... 61 (in short 'the Act') dated 08/02/2013. 2. One common issue involved in the appeal of the Revenue as well as the Cross Objection filed by the assessee is in relation to the disallowance under section 14A of the Act. In this context, the relevant facts are that assessee determined the disallowance under section 14A of the Act originally at Rs. 48,05,361/-, but in the course of assessment proceedings, assessee put-forth a disallowance of Rs. 32,03,556/- primarily contending that the value of average investments adopted for the purposes of Rule 8D(2)(iii) of the Income Tax Rules, 1962( in short 'the Rules) was required to be reduced by the amount of investment stated to be made in the partnership firms of M/s. Metropilis Hotels and M/s. Jew ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CBDT Circular dated 10/12/2015 (supra), the same is dismissed as not maintainable. We hold so. 4. Coming to the Cross Objection, the Ld.Representative for the assessee pointed out that there was a small delay of 24 days in filing it and in this context he referred to an affidavit by the Competent Officer of the assessee company dated 02/06/2016 averring the reasons for the delay. The Ld.Representative for the assessee pointed out that the delay is for bonafide reasons and that the same be condoned. 5. On the other hand, the Ld. Departmental Representative has not opposed the plea of the assessee for condonation of delay. Considering the fact that the reasons have been averred by an affidavit and bonafides of the reasons canvassed by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter is remanded back to the file of Assessing Officer to be examined afresh in the light of the proposition upheld by the Tribunal in its order dated 12/04/2016(supra) in the case of the assessee itself. 7. The Ld. Departmental Representative has not opposed the plea of the assessee for remanding the matter back to the file of the Assessing Officer. 8. We have carefully considered the rival submissions. Ostensibly, the plea raised by the assessee is a fresh plea which was not before the lower authorities. So, however, it is also pertinently clear that the proposition sought to be canvassed has been taken into consideration by the CIT(A) also, though in the context of investment in partnership firm. Presently, the case made out by the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the claim is being made for the first time in assessment year 2011-12, since assessee is permitted to claim the benefit for any consecutive period of 10 years comprised in the period of 15 years, beginning from the year in which the undertaking begins to generate power. 10. At the time of hearing, the judgment of the Hon'ble Bombay High Court in the case of Ultratech Cement Ltd. vs. Addl. CIT, (2017) 81 taxmann.com 74 (Bom) was referred to which clearly clinches the controversy against the assessee. In somewhat similar circumstances, in the case of Ultratech Cement Ltd. (supra), Hon'ble High Court upheld the action of the Tribunal in denying the admission of a ground seeking benefit under section 80IA(4)(iv)(a) of the Act for the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has reiterated the submissions made before the lower authorities to point out that the expenditure was incurred in the course of repairs carried out to the kitchen exhaust system in the assessee's hotel at Shirdi. The Ld. Representative for the assessee pointed out that before the lower authorities the assessee had also relied upon the judgment of the Madras High Court in the case of Dasaprakash Hotel,114 ITR 210(Mad) for the proposition that the renovation expenditure incurred in a hotel is allowable as a revenue expenditure. With regard to the decision of the CIT(A), the Ld. Representative for the assessee pointed out that the case laws relied upon by him are inapplicable in the facts of the present case, because in the present c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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