Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (3) TMI 1682 - HC - Income TaxDisallowance under Section 14A - Held that:- Assessing Officer (AO) did not expressly record reasons for rejection of that figure and instead proceeded to disallow a sum in excess of ₹ 5,61,02,732/-. The DRP reduced this figure to ₹ 2,56,62,215/- which was ultimately rejected by the ITAT by placing reliance upon the judgment of this Court in Cheminvest Limited v. CIT-VI [2015 (9) TMI 238 - DELHI HIGH COURT] and ACB India Limited v. ACIT [2015 (4) TMI 224 - DELHI HIGH COURT] This Court is of the opinion that since the ITAT has relied upon the judgments of this Court which have explained the scope of Section 14A in such circumstances, no question of law arises. The appeal is accordingly dismissed along with the pending applications.
|