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2018 (3) TMI 1769 - AT - Income TaxDisallowance u/s 14A - whether assessee has not earned any exempt income ? - HELD THAT:- We find that in the peculiar facts and circumstances of the case, where admittedly there is no exempt income, position of law as considered by the jurisdictional High Court in the case of CIT Vs Lakhani Marketing [2014 (7) TMI 44 - PUNJAB AND HARYANA HIGH COURT] and decision of Cheminvest Ltd. [2015 (9) TMI 238 - DELHI HIGH COURT] we find that the departmental appeal cannot survive. Accordingly, upholding the conclusion arrived at for the reasons set out herein above, departmental appeal is dismissed and assessee's appeal is allowed.
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