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DCIT - 1(2) Room No. 535, 5th Floor Aayakar Bhavan, M.K. Road Mumbai 400020 Vs. M/s. Money Matters Advisory Services Ltd. (now My Idea Advisory Services Ltd.) 1-B, 1st Floor, Court Chambers 35, New Marine Lines, Mumbai 400020
December, 03rd 2014

          .   ,                             ,                         
       Before Shri D. Karunakara Rao, AM & Shri Amit Shukla, JM

                     ./ITA No. 1609/Mum/2013
                    (   / Assessment Year: 2007-08)

D C I T - 1(2)                   M/s. Money Matters Advisory Services
Room No. 535, 5th Floor          Ltd. (now My Idea Advisory Services Ltd.)
Aayakar Bhavan, M.K. Road        1-B, 1st Floor, Court Chambers
Mumbai 400020             Vs. 35, New Marine Lines, Mumbai
                           . / PAN - AACCP2478C
       /Appellant                                  / Respondent

                / Appellant     by:        Shri Akhilendra Yadav
                    / Respondent by:       Shri Anuj Kisnadwala

                 / Date of Hearing:
                /Date of Pronouncement:                01.12.2014

                                 / O R D E R

Per D. Karunakara Rao, AM

      This appeal by the Revenue is directed against the order dated
29.10.2014 passed by the CIT(A)-7, Mumbai and it pertains to AY 2007-08.

2.     Revenue has raised two grounds of appeal regarding disallowance of
expenditure under section 14A of the I.T. Act and non-consideration of the
decision in the case of M/s. Godrej & Boyce Mfg. Co. Ltd. 328 ITR 80 (Bom)
with regard to the facts of the case.

3.     Before us, the learned counsel adverted our attention to the order of
the CIT(A) (para 3.3) and submitted that the CIT(A) merely gave a direction
to the AO to decide the issue afresh in accordance with the judgement of the
Hon'ble Bombay High Court in the case of M/s. Godrej & Boyce Mfg. Co.
Ltd. 328 ITR 80 (Bom). He submitted that the direction is fair and, therefore,
the Revenue should not have any grievance against such direction.
                                          2                  ITA No. 1609/Mum/2013
                                              M/s. Money Matters Advisory Services Ltd.

4.        Per contra, the learned D.R. relied upon the order of the AO and the
argumentative grounds raised in its appeal.

5.        On hearing the parties, we find that the CIT(A) fairly concluded by
stating that Rule 8D applies from AY 2008-09 on wards and the AO should
decide the issue afresh after granting opportunity of hearing to the assessee.
We find the said conclusion of the CIT(A), given in para 3.3, is fair and
reasonable. Therefore the Revenue should not have any grievance. The AO
shall consider all the arguments of the Revenue raised in the appeal in the
remand proceedings. Accordingly, the grounds raised are dismissed.

6.        In the result, the appeal filed by Revenue is dismissed.


Order pronounced in the open court on 1st December, 2014.


                Sd/-                                    Sd/-
            (Amit Shukla)                       (D. Karunakara Rao )
              /Judicial Member                    / Accountant Member

 Mumbai,  Dated: 1st December, 2014

Copy to:

     1.    /The  Appellant
     2.    /The Respondent
     3.     ()/The CIT(A) ­ 7, Mumbai
     4.     /The CIT­ 1, Mumbai City
     5.      ,     ,  The DR, "B" Bench, ITAT, Mumbai
     6.     / Guard file.

                                                  /By        Order

              //True Copy//
                                   ,  ITAT, Mumbai Benches, Mumbai
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