TMI Blog2018 (4) TMI 1797X X X X Extracts X X X X X X X X Extracts X X X X ..... h a challenge to the Sec.154 proceedings can be done only by filing separate appeal against the Sec.154 order. Hence we do not admit these additional grounds of appeal. The assessee is free to file an appeal against the order passed by the AO u/s 154 of the Act. The delay in filing shall be considered sympathetically as and when the appeal is filed before the Appellate Authority. Disallowance u/s 14A r.w.r. 8D - assessee submitted that the assessee has interest free fund in excess of the total investments in shares made, which had earned dividend income and that Rule 8D(2)(ii) of the IT Rules will not apply in view of the judgment of HDFC Bank Ltd.[ 2014 (8) TMI 119 - BOMBAY HIGH COURT] - HELD THAT:- We restrict the disallowance to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. That the learned Assessing Officer erred in considering the Investment in foreign subsidiary qualifying for disallowance under Rule 8D (2) (iii) of the Income Tax Rules, 1962. 3. That the learned Assessing Officer erred in applying circular No. 512014 dated 11.02.2014 of CBDT in the appellant's case since the concerned investments were made in foreign subsidiaries and any income there from generated to and/or received by the appellant, if any, is taxable in India. 3. The assessee filed the following additional grounds : ITA No.280/Kol/2017 T.K.M.Global Logistics Ltd. A.Y.2012-13 2 1. On the facts of the case and in law, the order of the Transfer Pricing Officer (hereinafter referred to as TPO ) passed u/s 92 CA(3) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee pleads that there is a merger, we are of the considered opinion that the proceedings made by the AO u/s 154/92CA(5) r.w.s. 92CA(3)/144C/143(3) of the Act dated 14.07.2017 is a separate proceedings and has to be separately challenged, as the assessee wishes to challenge as to whether the rectification in question carried out by the AO to the final assessment order are mistakes apparent on record or not. Such a challenge to the Sec.154 proceedings can be done only by filing separate appeal against the Sec.154 order. 6. Hence we do not admit these additional grounds of appeal. The assessee is free to file an appeal against the order passed by the AO u/s 154 of the Act. The delay in filing shall be considered sympathetically as and when ..... X X X X Extracts X X X X X X X X Extracts X X X X
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