Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (10) TMI 1341 - HC - Income TaxMaintainability of appeal - Whether the Tribunal has committed substantial illegality while interpreting instruction No. 5 of 2008 dated 15th May, 2008 without taking into account the loss, notional tax effect in case of loss? - disallowance of bad debt and its interest claimed under Section 36(1)(viia)delted by CIT(A) - Held that:- The assessee is enjoying the benefit of Section 80P of the Act and as such the tax on an income is exempted. Even if the addition is sustained, there will be no tax demand as the tax effect will be NIL. In view of the Instruction No.5 of the CBDT dated 10.7.2014, the present appeal is not maintainable. In the case of CIT v. Manglam Ricinus Ltd. [2008 (5) TMI 640 - DELHI HIGH COURT] the Hon'ble Delhi High Court observed that in such type of cases, the exercise shall be merely academic exercise - Decided against revenue.
|