The issue raised before the High Court was \u201c Whether on facts and in the circumstances of the case and in law , the Tribunal was justified in confirming the disallowance of Rs 50, 44, 792 u\/s 14A of the Act \u201c The parties agreed that the issue is covered against\u00a0 the assessee in view of Judgement of Apex Court in Maxopp Investment Ltd v. CIT ( 2018) 402 ITR 640 (SC). Alternative claim was\u00a0 raised before the Court for the first time that\u00a0 disallowance cannot be in excess of total exempt income . Dismissing the appeal of the assessee the Court held that ; as the alternative claim was not raised before the Tribunal the High Court declined to entertain the claim . Court held that \u00a0issue not raised before Tribunal, could not be allowed to be urged before High Court in appeal- however, only an issue of jurisdiction would be allowed, even if same was not raised before Tribunal .Followed CIT v. Tata Chemicals (P) Ltd ( 2002) 256 ITR 395 ( Bom) (HC), CIT v. Lata Shantilal Shah (Smt) (2010) 323 ITR 297( Bom) (HC) (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 260A : Appeal – High Court – Issue not raised before Tribunal, could not be allowed to be urged before High Court in appeal- However, only an issue of jurisdiction would be allowed, even if same was not raised before Tribunal \u2013 Disallowance of expenditure in respect of strategic investment- Alternative claim was raised before the Court was that disallowance cannot be in excess of total exempt income – As the alternative claim was not raised before the Tribunal the High Court declined to entertain the claim [S.14A,254(1), R.8D ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2669","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-H3","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2669"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2669\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}