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Commissioner of Income Tax-09 Versus T.G. Leisure And Resorts Pvt. Ltd.

2015 (7) TMI 741 - DELHI HIGH COURT

Disallowance u/s 14A r.w.r. 8D - Held that:- Relying on the decisions in Maxopp Investments Limited v. Commissioner of Income Tax [2011 (11) TMI 267 - Delhi High Court] and Auchtel Products Limited v. ACIT (2012 (5) TMI 108 - ITAT, MUMBAI) the ITAT c .....

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he expenditure under Section 14A there must be a live nexus between expenditure incurred and income not forming part of total income. Consequently, the ITAT came to the conclusion that the disallowance made by the AO was not justified.

Lea .....

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ave earned such exempted income during the financial year under consideration. She candidly admitted that the said circular was not placed before the ITAT in the appeal filed by the Revenue. The Court is not prepared to permit the Appellant to urge a .....

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ounsel. For the Respondent : None ORDER CM APPL No. 11275/2015 (for exemption) 1. Exemption allowed subject to all just exceptions. 2. The application is disposed of. ITA No. 368/2015 3. This appeal is directed against the impugned order dated 18th N .....

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Section 14A of the Income Tax 1961 ('Act') read with Rule 8 (D) (ii) of the Income Tax Rules. In an appeal filed before the Commissioner of Income Tax (Appeals) ['CIT (A)'] the above addition made by the AO was deleted. It was held th .....

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x Rules. 5. Aggrieved by the order of the CIT (A), the Revenue as well as the Assessee filed appeals. By the impugned order, the ITAT allowed the appeal of the Assessee while dismissing the appeal of the Revenue. Relying on the decisions in Maxopp In .....

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ectness of the claim of the Assessee in respect of such expenditure which did not part of the income. It was held that in order to disallow the expenditure under Section 14A there must be a live nexus between expenditure incurred and income not formi .....

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