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As earlier intimated to you, Writ Petition bearing No. 50 of 2010 (Indian Exporters Grievances Forum & Other vs. CIT) challenging the constitutional validity of Rule 8D has been admitted on 12.1.2010 by Hon’ble Shri Justice Dr. D.Y. Chandrachud and Hon’ble Shri Justice J.P. Devadhar of the Bombay High Court.
The said matter including appeals relating to section 14A which were fixed for final hearing on 15.2.2010 have been adjourned to 23.3.2010.
All those having matters relating to interpretation of section 14A which are pending before the High Court are requested to give the Appeal Nos. to the Associate for grouping matters.
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Whether the matter of Daga Capital and related matters has got heard or are still pending? Has any other court decided the said issue of section 14A?
Really it is good for Tax lawyers ,tax practiceoner students to get update on this issue through your post .
Though adjournment of matter in High Court should not really worry the assessees, the problem lies with the CIT(A) who are not at all willing to grant adjournment in matters covered by Daga Capital, whereas Hon’ble ITAT is granting adjournment without any fuss. CIT(A) need to act more judicially and should not think only about disposing off the case, as the same is causing undue hardship to assessees.
Thanks for the updation of information on Rule 8D.