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2018 (7) TMI 1469 - ITAT HYDERABADDisallowance u/s 14A - Held that:- This issue is covered in favour of the assessee by the decision of the Hon'ble Delhi High Court in the case of Cheminvest Ltd vs. CIT (2015 (9) TMI 238 - DELHI HIGH COURT) wherein it has been held that if there is no dividend income (which is exempt from tax) earned during the relevant period, no disallowance u/s 14A can be made - Decided in favour of assessee Disallowance of preliminary expenses written off u/s 35D - Held that:- It is not in dispute that in the preceding assessment year, very expenditure stand accepted. The issue is squarely covered against the revenue in light of the decision of the Hon’ble Supreme Court in the case of Shasun Chemicals & Drugs Ltd vs. Commissioner of Income TaxII, Chennai reported in (2016 (9) TMI 1199 - SUPREME COURT OF INDIA) wherein the issue was with respect to claim under Section 35D and it was found that expenses claimed by the assessee for first two assessments years were allowed by the Assessing Officer, the Assessing Officer in the subsequent assessment year could not have disallowed the same. Under the circumstances, no error has been committed by the learned Tribunal in deleting the disallowance - Decided in favour of assessee
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