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2022 (9) TMI 1528 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - CIT (A) deleted the disallowance as the assessee did not receive any exempt income during the assessment year under consideration - scope of amendment made by the Finance Act, 2022 to Section 14A - HELD THAT:- CIT (Appeals) followed the decision of Cheminvest Limited [2015 (9) TMI 238 - DELHI HIGH COURT]. Also recently in the case of M/S. ERA INFRASTRUCTURE (INDIA) LTD. [2022 (7) TMI 1093 - DELHI HIGH COURT] and Sedco Forex International Drill. Inc [2005 (11) TMI 25 - SUPREME COURT] and M.M. Aqua Technologies Ltd. [2021 (8) TMI 520 - SUPREME COURT] held that the Amendment to section 14A of the Act w/o for removal of doubts cannot be presumed to be retrospective. No infirmity in the order passed by the ld. CIT (Appeals) in deleting the disallowance made under section 14A read with Rule 8D - Decided against revenue.
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