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2018 (5) TMI 1786 - HC - Income TaxDisallowance u/s 14-A - AO had proceeded to calculate the disallowance based upon the investments made by the assessee - Held that:- CIT(A) and the Income Tax Appellate Tribunal (ITAT) allowed the assessee’s appeals by following the ruling in ‘Cheminvest Limited vs. Commissioner of Income Tax-VI’, (2015 (9) TMI 238 - DELHI HIGH COURT) the Court had then held that in the absence of any exempt income disallowance was impermissible. For the relevant Assessment Year (2013-14), concernedly, the assessee did not report any exempt income. Consequently, no substantial question of law arises; the appeal is therefore dismissed along with the pending application.
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