Itxa/11/2017 Of Pr.commissioner Of Income Tax-7 v. Premier Finance And Trading Co.ltd

Priya Soparkar 112 itxa 10-17 and 11-17-o IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.10 OF 2017WITH INCOME TAX APPEAL NO.11 OF 2017 Pr.Commissioner of Income-Tax-7… Appellant V/s. Premier Finance & Trading Co. Ltd.… Respondent --- Mr.Suresh Kumar for the Appellant.Mr.Jay Bhansali for the Respondent. --- CORAM : AKIL KURESHI AND M.S.SANKLECHA, JJ. DATE : MARCH 6, 2019. P.C.:- 1.Issues being identical, we may notice facts from Appeal No.1832 of 2016. 2.Revenue has filed these appeals against the judgment of the Income Tax Appellate Tribunal raising following question for ourconsideration:- “Whether on the facts and circumstances of thecase, the Tribunal is justified in dismissing therevenue's appeal against the CIT(A) decision in Priya Soparkar 212 itxa 10-17 and 11-17-o directing the Assessing Officer to recompute thedisallowance u/s 14A of the I.T.Act, 1961 on aproportionate basis?” 3.The issue relates to the respondent-assessee for theassessment years 2002-03 and 2005-06 respectively and concernsthe applicability of Section 14A of the Income Tax Act, 1961 (“theAct” for short). Perusal of the impugned judgment of theTribunal would show that the Tribunal had in this respect upheldthe order of the CIT (Appeals) directing the Assessing Officer torecompute the disallowance on proportionate basis. Learnedcounsel for the revenue submitted that the CIT (Appeals) hadplaced the matter back before the Assessing Officer forrecomputation of disallowance. That being the position, we donot find the error in view of the Tribunal, not interfering theorder of the CIT (Appeals). No question of law arises. Tax appealsare dismissed. (M.S.SANKLECHA,J.) (AKIL KURESHI,J.)….….