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2015 (7) TMI 1320 - AT - Income TaxAddition u/s 14A r.w.r. 8D - no exempt income was earned - HELD THAT:- We find that there is no quarrel that the assessee company has not received any dividend income or tax free income. On the said factual matrix, the issue before us is no longer res integra. As decided in COMMISSIONER OF INCOME TAX-IV VERSUS HOLCIM INDIA P. LTD. [2014 (9) TMI 434 - DELHI HIGH COURT] section 14A cannot be invoked when no exempt income was earned. Also see WINSOME TEXTILE INDUSTRIES LTD. [2009 (8) TMI 220 - PUNJAB AND HARYANA HIGH COURT], M/S HERO CYCLES LTD. [2009 (11) TMI 33 - PUNJAB AND HARYANA HIGH COURT] and M/S LAKHANI MARKETING INCL [2014 (7) TMI 44 - PUNJAB AND HARYANA HIGH COURT] - Decided in favour of assessee.
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