2022 (11) TMI 384 - HC - Income Tax

Disallowance under Section 14A - No exempt income earned - HELD THAT:- As it is admitted that no exempt income was earned by the Assessee in AYs 2012-13 and 2013-14. The ITAT following the judgment of this Court in Cheminvest Ltd. [2015 (9) TMI 238 - DELHI HIGH COURT] has deleted the said disallowance made on account of Section 14A of the Act.

TP adjustment on account of AMP expenditure - HELD THAT:- As the present appeals are disposed of in terms of the judgment of the Division Bench in the aforesaid Income Tax Appeals, however, it is made clear that the present decision will abide by the judgment of the Supreme Court ID = 1820523 preferred by the Revenue against the order passed by this Court in [2017 (5) TMI 1223 - DELHI HIGH COURT]