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TMI Blog2021 (1) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... thilkumar, SSC assisted by Mrs.K.G.Usharani, JSC For the Respondent : Mr.R.Vijayaraghavan for M/s.Subbaraya Aiyer Padmanabhan JUDGMENT T. S. SIVAGNANAM, J. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity), is directed against the order dated 31.5.2017 made in I.T.A.No.1044/Mds/2016 on the file of the Income Tax Appellate Tribunal, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that the investment made by the assessee in group subsidiary company is on account of commercial expediency and expenditure attributable to such investment does not attract the provisions of Section 14A of the IT Act read with Rule 8D wheras Rule 8D as contained in the Income Tax Rules, 1962 does not provide for any such exclusion for the purpose of computing disallowance under Section 14A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s contended that the Tribunal erred in dismissing the appeal filed by the Revenue on the ground that the disallowance made under Section 14A of the Act read with Rule 8D of the Income Tax Rules, 1962 was not attracted when there is no exempt income. 5. This issue is no longer res integra and has been decided in favour of the assessee in the decision of the Division Bench of this Court in case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pletely contrary to the provisions of the said Section. ...... 15. However, it is, our view, as indicated above, independent of the reasoning given in M/s.Redington (India) Limited case that Rule 8D cannot be read in a manner, which takes it beyond the scope and content of the main provision, which is, Section 14 A of the Act. 15.1. Therefore, as adverted to above, Rule 8D, cannot come to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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