TMI Blog2018 (5) TMI 1946X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of Special Bench of ITAT, Hyderabad in the case of ACIT Vs. Progressive Constructions Ltd. [ 2017 (3) TMI 1167 - ITAT HYDERABAD] . The decision of the learned CIT (Appeals) is in consonance with the ratio laid down in the Special Bench (supra). Therefore, we do not find any reason to interfere with the impugned order of the learned CIT (Appeals). Hence the grounds raised by the revenue are d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erred in allowing the assessee's appeal on the issue of disallowance made u/s 14A r. w. Rule 8D as the said matter has not reached finality due to pendency of revenue's appeal before the Hon'ble High Court of Karnataka against the decision of Jurisdictional ITAT in the case of M/S Ambuthirtha Power Pvt. Ltd in ITA No.243/2016, dated: 07.07.2017 and an SLP before the Hon'ble Apex C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 3,77,06,881. Against the said return of income, the assessment was completed by the Assessing Officer vide order dt.24.03.2016 passed under Section 143(3) of the Income Tax Act, 1961 (in short 'the Act') determined the total income at ₹ 6,59,87,925. While doing so, the Assessing Officer made an addition of ₹ 2,82,81,044 invoking the provisions of Section 14A of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e absence of exempt income. Reliance in this regard can be placed on the decision of Special Bench of ITAT, Hyderabad in the case of ACIT Vs. Progressive Constructions Ltd. 92 taxmann.com 104. The decision of the learned CIT (Appeals) is in consonance with the ratio laid down in the Special Bench (supra). Therefore, we do not find any reason to interfere with the impugned order of the learned CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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