Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 1061 - AT - Income TaxAddition u/s 14A r.w.r. 8D - Held that:- We have observed that Hon’ble Delhi High Court in the case of Cheminvest Limited (2015 (9) TMI 238 - DELHI HIGH COURT) had held that no disallowance can be made u/s. 14A . If no exempt income is received or receivable during the year. The decision of the Hon’ble Delhi High Court is approved by Hon’ble Bombay High Court in the case of Principal CIT v. Ballarpur Industries Ltd. reported in {2016 (10) TMI 1039 Bombay High Court}. Thus deletion of the addition as made by the A.O u/s. 14A by applying Rule 8D as the assessee has not received any exempt income during the previous year relevant to the impugned assessment yea. - Decided against revenue
|