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TMI Blog2018 (4) TMI 1972X X X X Extracts X X X X X X X X Extracts X X X X ..... iled by the assessee against the order of Ld.CIT(A)-VIII, New Delhi dated 20.06.2014 for AY 2010-11 on the following grounds:- 1. "On the facts and in the circumstances of the case, the CIT(A) has erred both on facts and in law, in confirming disallowance of an imaginary, arbitrary and untenable addition of Rs.21,07,057/- u/s 14A read with Rule 8D of the Income Tax Rules and the illegal addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exempt from tax during the year, no disallowance can be made u/s 14A of the Income Tax Act, 1961 (in short "Act") as held by the Hon'ble Jurisdictional High Court in the case of Cheminvest Ltd. v. CIT [2015] 378 ITR 33 (Del). Therefore, Ground No.1 is allowed. 3. Ground No.2 of the assessee is covered by the decision of the Co-ordinate Bench of the Tribunal in the assessee's own case in ITA No. 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... these are in the nature of security deposits which are refundable in nature on termination of agreements. Both parties before us have expressed their intention regarding issue being re-adjudicated by assessing officer de novo. Accordingly, we are inclined to set aside this issue to Ld. AO for fresh adjudication. Ld. AO shall investigate upon and take all necessary steps to ascertain true nature of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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