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TMI Blog2021 (2) TMI 179X X X X Extracts X X X X X X X X Extracts X X X X ..... against the order dated 27.04.2016 of the CIT(Appeals)-14, LTU, Bangalore for the AY 2011-12. ITA Nos. 838 & 840/Bang/2019 are appeals by the assessee against the separate orders, both dated 18.02.2019 of the CIT(Appeals), Bengaluru-2, Bengaluru for the AYs 2012-13 & 2014-15. Since certain issues are common in nature, these appeals were heard together and disposed of by this common order for the sake of convenience and brevity. 2. The common ground in all the assessee's appeals is with regard to disallowance u/s. 14A of the Income-tax Act, 1961 [the Act]. The assessee is engaged in life insurance business and accordingly computed income as per the provisions of section 44 of the Act read with First Schedule of the Act. Section 44 of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d therein including section 14A. We are not convinced with the submission of Mr. Ajit Sharma that section 14A would be applicable in respect of the Respondent. Section 14A does not have independent legs to stand on. Section 14A inter alia begins with the words "for the purposes of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred. . . . . . . . .". The chapter in question is chapter IV. This chapter also contains the provisions relating to computation of profits and gains of business or profession. Section 44 specifically excludes the provisions of the Act relating to computation of income, inter alia, those contained in "Section 28 to 43B". Thus, the exclusion would take within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ventured into examining the merits of the computation of income of the Respondent assessee in terms of section 44 read with the first schedule of the Act. No doubt, the Tribunal is a final fact-finding body. However, when the Revenue confined its challenge only in respect of the applicability of section 14A, we cannot find fault in the impugned order, on the basis of submissions not advanced before the Tribunal. We, therefore do not find any substantial question of law arising in relation to the view taken by the Tribunal." 5. Being so, in our opinion, this issue is decided in favour of the assessee and against the department. 6. As far as the objection of the ld. DR regarding raising an issue of disallowance u/s. 14A of the Act in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee on this issue by placing reliance on earlier order of the CIT(Appeals), LTU in assessee's own case for AY 2009-10 and also the judgment of Hon'ble Bombay High Court in the case of CIT v. Life Insurance Corporation of India, [2011] 338 ITR 212 (Bom). Against this, the revenue is in appeal before us. 10. We have heard both the parties and perused the material on record. Similar issue came up for consideration before the Tribunal in assessee's own case for the AY 2010-11 in ITA No.243/Bang/2015 and the Tribunal vide order dated 24.04.2019 held as under:- "49. We have heard and considered the rival submissions. In our view the issue is squarely covered in favour of the Assessee by the decision of the Hon'ble Bombay High Court in the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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