TMI Blog2021 (12) TMI 1435X X X X Extracts X X X X X X X X Extracts X X X X ..... ;ble High Court has restricted the disallowance to the extent of exempt income. Similar view was taken in the case of Caraf Builders and Construction [ 2018 (12) TMI 410 - DELHI HIGH COURT ]. Since now we have the binding decision of the Hon'ble Jurisdictional High Court of Delhi we direct the Assessing Officer to restrict the disallowance to the extent of exempt income - Ground of the assessee is allowed. Disallowance towards leave and encashment u/s 43B - assessee claimed that claim of leave encashment on accrual basis - HELD THAT:- We have carefully perused the orders of this Tribunal in [ 2021 (12) TMI 441 - ITAT DELHI ] as relying on Apex Court in case of Exide Industries [ 2020 (4) TMI 792 - SUPREME COURT ] held that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6080/DEL/2012 and 4097/DEL2013 for Assessment Years 2008 09 and 2009 10 has considered a similar quarrel on identical set of facts and has decided the issue in favour of the assessee. The relevant findings read as under: We have carefully considered the rival contention and found that the claim of the assessee is that company has given discount to its debtors based on consumption of Airtime during the current year. It filed its detail of the credit balance of the debt. From the details of credit balance of debtors, the learned assessing officer enquired about the details of the consumption debtor of Rs. 34,000,000/- which was explained by the assessee, that this is a discount account which is credited by the company by passing an acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration, Ground No. 1 is dismissed. 7. Second grievance relates to deletion of disallowance of Rs. 33,48,749/ u/s 14A of the Act and restricted the same to suo moto disallowance at Rs.27,07,333/ . 8. Ground No. 2 in assessee s appeal is also on the same set of facts. Therefore, it is also taken up together with the revenue s ground. 9. Briefly stated the facts of the case are that during the year under consideration, the assessee earned dividend income of Rs.18,521/ . The assessee suo moto disallowed a sum of Rs. 27, 07,033/ . The Assessing Officer computed the disallowance invoking Rule 8D at Rs. 33,48,749/-. Since the assessee had suo moto disallowed Rs. 27,07,333/-, the ld. CIT(A) restricted the disallowance to this amount. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nion that the said judgement of the Hon'ble Kerala High Court has been stayed by the Hon'ble Supreme Court in the case and it has been clarified that the assessee has to pay tax as if section 43B(f) is on the Statute. In view of these facts, Assessing Officer made disallowance of Rs. 37,81,531/- 16. The assessee agitated the matter before the ld. CIT(A) but without any success. 17. Before us, the ld. counsel for the assessee drew our attention to the decision of this Tribunal in assessee s own case in A.Y 2012 13 and pointed out that the Tribunal has set aside the issue with directions to the Assessing Officer. 18. The ld. DR fairly conceded to this. 19. We have carefully perused the orders of this Tribunal in ITA No. 33 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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