Pr. Commissioner Of Income Tax -1 v. The Cricket Club Of India

(Private Secretary) IN THE HIGH COURT OF JUDICATURE AT BOMBAYO.O.C.J. INCOME TAX APPEAL NO. 911 OF 2017 Pr. Commissioner of Income Tax -1 Versus ..Appellant The Cricket Club of India ..Respondent ................... Mr. Suresh Kumar a/w Ms. Swapna Gokhale & Ms. SumandeviYadav for the AppellantMr. Suresh Kumar a/w Ms. Swapna Gokhale & Ms. SumandeviYadav for the Appellant Mr. R. Murlidharan i/by Mr. Atul Jasani for the Respondent Mr. R. Murlidharan i/by Mr. Atul Jasani for the Respondent ................... CORAM : AKIL KURESHI & S.J. KATHAWALLA, JJ. DATE : JUNE 6, 2019. P.C.: 1.The Revenue is in the appeal against the judgment of the Income Tax Appellate Tribunal, Mumbai (“the Tribunal”for short) dated 21.3.2016. 2.The following question is presented for ourconsideration:- "Whether on the facts and circumstances of the case and inlaw, the Tribunal was correct in deleting the disallowance of Rs.33,34,130? u/S. 14A, holding that the Assessing Officer shouldexamine the matter on this issue on reasonable basis?" 3. The issue pertains to disallowance of expenditureincurred for earning exempt income in terms of Section 14Aof the Income Tax Act, 1961 ("the Act" for short). Theassessing officer had applied Rule 8D in relation to theassessment year 2004-05. CIT(A) held that the said Ruledoes not have retrospective applicability but remanded theissue for the Assessing Officer to make a reasonabledisallowance. The Tribunal confirmed this view. This aspectis squarely covered by the decision of this Court in case ofGodrej & Boyce Mfg Co Ltd Vs. CIT[1] . In that view of thematter, this appeal is also dismissed. [ S.J. KATHAWALLA, J. ] [ AKIL KURESHI, J ]