Ita/183/2017 Of Pr. Commissioner Of Income Tax-I, Ludhiana v. M/S Abhishek Industries Ltd., (Now Trident Ltd.), E

IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. CM-5993-CI[-2019 in/andITA-183-2017(O&M) Date of decision: 28.03.2019 Pr. Commissioner of Income Tax-I, Ludhiana | ... Appellan Versus| M/s Abhishek Industries Ltd. | ... Responden CORAM: HON’BLE MR. JUSTICE KRISHNA MURARI,CHIEF JUSTICECHIEF JUSTICE HON’BLE MR. JUSTICE ARUN PALLI, JUDGE Present: |Mr. Rajesh Katoch, Advocate, for the appellant.Ms. Radhika Suri, Senior Advocate, with|Mr. M.S. Kanda, Advocate, for the respondent.REMs. Radhika Suri, Senior Advocate, with|Mr. M.S. Kanda, Advocate, for the respondent.RE KRISHNA MURARI, C.J.(Oral) This appeal by the revenue raises the following question of law: “Whether on fact and circumstances of the case and in|law the Hon’ble ITAT is correct in confirming the order ofCIT(A) in deleting the disallowance of Rs. 5,16,78,253/- madeunder Section 14A read with Rule 8D on account of expenses.incurred for making investments in equity funds by ignoring theprovisions of Rule 8D(2) of I.T. Rules?” The question stands answered by this Court in favour of theassessee relating to assessment year 2008-09 in a case tilted|Commissioner of Income TaxFIVi.Abhishek Industries Ltd.>i(2016)380 ITR 652 (P&H) In view of the answer given to the question in the judgmentreferred to above, squarely applicable to the facts of this case, the appealStands dismissed. — ( Krishna Murari) |Chief Justice( Arun Palli )Judge 28.03.2019Rajan Whether speaking / reasoned:YESWhether Reportable: NO