TMI Blog2019 (5) TMI 191X X X X Extracts X X X X X X X X Extracts X X X X ..... AL COMMISSIONER OF INCOME TAX-I, CHANDIGARH VERSUS M/S VARDHMAN CHEMTECH PRIVATE LIMITED, CHANDIGARH [ 2018 (10) TMI 1037 - PUNJAB AND HARYANA HIGH COURT] wherein the appeal filed by the revenue was dismissed. - ITA-237-2018 (O&M) - - - Dated:- 20-3-2019 - MR AJAY KUMAR MITTAL AND MRS MANJARI NEHRU KAUL, JJ. For The Appellant : Ms. Urvashi Dhugga, Sr. Standing Couns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon'ble ITAT has erred in deleting the addition of ₹ 65,97,366/- made u/s 14A read with Rule 8D on the ground that no tax free income has been earned by the assessee, in contravention to Board's Circular No. 5/2014 dated 11.02.2014? ii). Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT has erred in observing that as per Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to earning of exempt income have to be considered for disallowance irrespective of the fact whether any such income has been earned during the F.Y. or not? iv). Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT has erred in following the decisions of Hon'ble High Courts whose facts were distinguishable from the taxpayers, ignoring the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 377; 65,97,366/- on account of disallowance of interest under Section 14A of the Act to the returned income of the assessee. 4. Feeling aggrieved, the assessee filed an appeal before the Commissioner of Income Tax (Appeals) [in short the CIT(A) ] challenging the addition of ₹ 65,97,366/- on account of disallowance of interest under Section 14A of the Act. The CIT(A) vide o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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