Commissioner of Income Tax v. CLIX Finance India Pvt. Ltd

1. For the reasons explained in the applications, the delay in filing and re filing the appeal is condoned and the applications are allowed. ITA 639/2019

2. The issueiurged by the Revenue in the present appeal against the.order dated ll''^ June 2018 passed by the Income Tax Appellate Tribunal(ITAT) in ITA No. 762/Del/2016 for the Assessment Year(AY)2009-10 concerns the deletion by the ITAT ofan addition ofRs.28,67,29,284/- under Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules(Rules).

3. The ITAT set aside the addition made by the Assessing Officer(AO)on the ground that Assessee had not disclosed any expenditure incurred on 2019:DHC:7416-DB earning the dividend income.

4. The fact ofthe matter is that in the present case,the AO appears to have made an addition which admittedly is in excess ofthe dividend income.This Court hasinHTMedia Ltd. v.PrincipalCIT,399ITR 576(Del),in similar circumstances deleted such addition. In the facts and circumstances of the present case,on this issue,no substantial question oflaw arises.

5. The appeal is accordingly dismissed.

S.MURALIDHAR,J.

TALWANT SINGKCJ- JULY 16,2019 m o & $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 639/2019 PR.COMMISSIONER OFINCOME TAX-2,DELHI Appellant Through: None.

VERSUS

M/S CLIX FINANCEINDIA PVT.LTD...... Respondent Through: Mr Sachit Jolly and Mr Aarush Bhatia,Advocates. CORAM: IV^- - ORDER % 29.07.2019

1. The office note has been pemsed.The corrected order shall read as under: "ITA 639/2019 COMMISSIONER OFINCOME TAX Appellant Through: Mr. Zoheb Hossain, Senior Standing Counsel for Revenue

VERSUS

CLIX FINANCEINDIA PVT.LTD Respondent CORAM: » ORDER % 16.07.2019 CM APPLs.31437-31438/2019

1. For the reasons explained in the applications, the delay in.filing and re-filing the appeal is condoned and the applications are allowed. ITA 639/2019

2. The issue urged by the Revenue in the present appeal against the order dated. 11th June 2018 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No. 762/Del/2016 for the Assessment Year(AY)2009-10 concerns the deletion by the ITAT of an addition of Rs. 28,67,29,284/- under Section 14A ofthe Income Tax Act, 1961 read with Rule 8D ofthe Income Tax Rules(Rules).; \

3. The ITAT set aside the addition made by the Assessing Officer(AO)on the ground that Assessee had not disclosed any expenditure incurred on earning the dividend income.