The Commissioner Of Income Tax – 6, Mumbai v. M/S.jayneer Capital Private Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1018 OF 2012 The Commissioner of Income Tax – 6, Mumbai..Appellant. Versus M/s.Jayneer Capital Private Limited..Respondent. Mr.Suresh Kumar i/by Ms.S.V. Bharucha for the appellant.None for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 5[th] February 2013 P.C. : 1.In this appeal by the Revenue for assessment year 2005-2006, following question of law has been proposed for our consideration. “Whether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in restoring the matter to the file of the AO for computing the disallowance under Section 14A of the Income Tax Act as after relying the judgment of the jurisdictional High Court in the case of M/s.Godrej & Boyce Mrg. Co. Limited V/s. DCIT (2010) 328 ITR 81 (Bom) without appreciating the fact that reasonable disallowance under Section 14A was made out of the interest expenditure in the proportion of interest attributable to share investment related to exempt income ?” 2. Since the Tribunal by the impugned order has restored the matter to the file of the assessing officer to examine disallowance under Section 14A after considering the decision of this Court in the case of Godrej & Boyce Manufacturing Company Limited V/s. Deputy Commissioner of Income Tax reported in (2010) 328 ITR 81 (Bom), we see no reason to entertain the proposed question of law. 3.The appeal is accordingly dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)