Itxa/1832/2016 Of Pr.commissioner Of Income Tax-7 v. Premier Finance And Trading Co.ltd

Priya Soparkar 12 itxa 1832-16-o IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1832 OF 2016 Pr.Commissioner of Income-Tax … 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.Revenue has filed this appeal against the judgment of theIncome Tax Appellate Tribunal raising following question for our consideration:- “Whether on the facts and circumstances of thecase, the Tribunal is justified in dismissing therevenue's appeal against the CIT(A) decision indirecting the Assessing Officer to recompute thedisallowance u/s 14A of the I.T.Act, 1961 on aproportionate basis?” Priya Soparkar 212 itxa 1832-16-o assessment year 2004-05 and concerns the applicability ofSection 14A of the Income Tax Act, 1961 (“the Act” for short).Perusal of the impugned judgment of the Tribunal would showthat the Tribunal had in this respect upheld the order of the CIT(Appeals) directing the Assessing Officer to recompute thedisallowance on proportionate basis. Learned counsel for therevenue submitted that the CIT (Appeals) had placed the matterback before the Assessing Officer for recomputation ofdisallowance. That being the position, we do not find the errorin view of the Tribunal, not interfering the order of the CIT(Appeals). No question of law arises. Tax appeal is dismissed. (M.S.SANKLECHA,J.) (AKIL KURESHI,J.)….