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2021 (4) TMI 338 - AT - Income TaxDisallowance u/s 14A - Whether assessee had not earned any exempt income during these assessment years? - HELD THAT:- There is no dispute and as a matter of fact authorities below categorically recorded that the assessee had not earned any exempt income during these assessment years and therefore the decision of the Hon’ble jurisdictional High Court in the cases of Cheminvest Ltd [2015 (9) TMI 238 - DELHI HIGH COURT] and Holcim India Pvt. Ltd . [2014 (9) TMI 434 - DELHI HIGH COURT] are applicable to the facts of the case. We are of the considered opinion that where there is no dispute of fact that no dividend income was earned by the assessee during the year, no disallowance is called for under section 14 A of the Act. For these reasons, we uphold the findings of the Ld. CIT(A) and dismiss the grounds of appeal of the Revenue.
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