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TMI Blog2025 (5) TMI 871X X X X Extracts X X X X X X X X Extracts X X X X ..... ollowing grounds of appeal: AY 2020-21 1. On the facts and in the circumstances of the case, the Ld.CIT(A) has erred in deleting the disallowance u/s. 14A of the Income Tax Act, 1961 of Rs. 2,22,16,000/- by ignoring the provisions of section 14A r.w.r 8D(2) which prescribes a methodology for disallowance to be made u/s.14A of the Income Tax Act, 1961." 2. "On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in directing the AO to delete the addition of Rs. 2,09,61,935/- being income u/s 5 of the Income Tax Act, 1961." 3. "On the facts and in the circumstances of the case, the Ld.CIT(A) has erred in directing the AO to delete the addition of Rs. 2,09,61,935/- on the basis of resolution passed by the borrowe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,55,770/- on 22.01.2021 from the business of retailing of household and consumer products through departmental stores. The case was selected for scrutiny and assessment u/s 143(3) was made on 15.03.2022 at an income of Rs. 80,55,42,650/- after making various disallowances/additions. 5. Aggrieved with the order of Ld. AO, the assessee preferred an appeal before Ld. CIT(A), who has allowed the assessee's appeal on merits vide order dated 05.11.2024. 6. Aggrieved with the order of Ld. CIT(A), the revenue is in appeal before the Tribunal on the following grounds. 7. Ground No. 1: Disallowance u/s 14A r.w. Rule 8D - Rs. 2,22,16,000/- 7.1 Brief facts of the issue are that Ld. AO observed that besides the business activity, a huge amount of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me. The ground No. 1 and 2 of the appeal in respect of all three appeals are dismissed." 7.3 Ld. DR, on the other hand, has relied upon the order of Ld. AO and argued that the provisions of section 14A r.w. Rule 8D is squarely applicable in this case, and therefore, the disallowance made by the Ld. AO deserves to be upheld. 7.4 We have heard the rival submissions, and we find that the facts in the present year are identical to the facts of the earlier years. Therefore, respectfully following the decisions of the coordinate benches in earlier years, we hold that the decision of Ld. CIT(A) deleting the disallowance u/s 14A Rule 8D is justified. We, therefore, are not inclined to interfere with the order of Ld. CIT(A) as no change in facts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The issue has been decided in favour of the assessee predicated on earlier years with the following observations: 6.6 The Ld. CIT(A) in assessment year 2016-17 following the decision of the Tribunal in earlier years decided the issue in favour of the assessee observing as under: "6.3 The assessee has made elaborate submissions on the issue. However, it is noted that this is a repetitive issue and Hon'ble Mumbal Tribunal has ordered the matter in favor of the of the appellant company for AY 2009-10, AY 2010-11. AY 2012-13, AY 2013-14 & AY 2014-15. The observations of the ITAT while dealing with the issue for AY 2014-15 are reproduced below: "14. We have considered the submission of both the parties and gone through the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in facts brought to our notice. Therefore, we do not find any merit in the grounds of appeal raised by revenue." 6.7 Identical findings have been given by the Ld. CIT(A) in respect of AY 2017-18 & 2018-19 on the issue-in-dispute. 7. We have heard rival submissions of the parties on the issue-in-dispute and perused the relevant material on record. We note that the Ld. CIT(A) has adjudicated the issue following the binding precedent on the issue-in-dispute and therefore we do not find any error in the order of the Ld. CIT(A) on the issue-in-dispute in all the three assessment years involved. Accordingly, the grounds No. 3 to 7 raised in all the three appeals are dismissed." 9. Respectfully following the decision of the coordinate be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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