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2020 (1) TMI 1161 - HC - Income TaxDisallowance u/s 14A r.w.r. 8D - HELD THAT:- Section 14A of the Act deals with expenditure incurred in relation to income not includible in total income. As per sub- Section (1) of Section 14A, for the purpose of computing the total income, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income. In Cheminvest Ltd. [2015 (9) TMI 238 - DELHI HIGH COURT] examined the expression "does not form part of the total income" as appearing in sub-Section (1) of Section 14A of the Act. Delhi High Court held that the said expression envisages that there should be an actual receipt of income which is not includible in the total income during the relevant previous year for the purpose of disallowing any expenditure incurred in relation to the said income. It was clarified that Section 14A will not apply if no exempt income is received or receivable during the relevant previous year. This view has been followed in several decisions by this Court. No substantial question of law arises
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