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2023 (11) TMI 346 - HC - Income TaxDisallowance u/s 14A r.w.r.8D - in the period in issue assessee had not earned any exempt income - HELD THAT:- Issue concerning whether Section 14A r.w.r. 8D could not be triggered where no exempt income has been earned as decided in Bhilwara Energy Ltd. case [2023 (7) TMI 1316 - DELHI HIGH COURT] as relying on Cheminvest Limited [2015 (9) TMI 238 - DELHI HIGH COURT], Chettinad Logistics (P.) Ltd.. [2017 (4) TMI 298 - MADRAS HIGH COURT] and IL And FS Energy Development Co Ltd [2023 (5) TMI 1266 - DELHI HIGH COURT]. Also Special Leave Petition (SLP) was preferred against Cheminvest Limited, which was dismissed [2018 (7) TMI 567 - SC ORDER]. Also whether the Finance Act, 2022 could have retrospective effect, the said aspect also stands covered by the judgment rendered in Principal Commissioner of Income Tax (Central)-2 v. M/s Era Infrastructure (India) Ltd. [2022 (7) TMI 1093 - DELHI HIGH COURT] - Decided against revenue.
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