Itxa/1541/2012 Of The Commissioner Of Income Tax - 5 v. M/S. Essar Teleholdings Ltd

sas IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1541 OF 2012 The Commissioner of Income Tax-5, Mumbai ..Appellant. V/s. M/s. Essar Teleholding Ltd. ..Respondent. Mr. Abhay Ahuja for the appellant. None for the respondent. CORAM : J.P. DEVADHAR AND M.S. SANKLECHA, JJ. DATED : 21ST JANUARY, 2013 P.C. :- 1.In this appeal filed by the revenue relating to assessment year 2006-07, the following question of law is proposed to be raised for our consideration:- “ Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that Rule 8D read with Section 14A of the Act cannot be applied retrospectively and would not be applicable for the relevant assessment year and restoring the matter back to the file of the assessing officer to work out the expenses on a reasonable basis for affecting the itxa1541-12 apportionment after considering the relevant accounts and material having bearing on the expenses incurred and funds deployed for earning the divident income ? “ 2.Since the Tribunal by following the decision of this Court in the matter Godrej Boyce Mfg. Co. Ltd. V/s. DCIT reported in [2010] 328 ITR 81 (Bom) has restored the matter back to the assessing officer for fresh decision, we see no reason to entertain the proposed question of law. Accordingly, the appeal is disposed of with no order as to costs. (M.S. SANKLECHA, J.)