TMI Blog2018 (3) TMI 1769X X X X Extracts X X X X X X X X Extracts X X X X ..... s Lakhani Marketing [ 2014 (7) TMI 44 - PUNJAB AND HARYANA HIGH COURT] and decision of Cheminvest Ltd. [ 2015 (9) TMI 238 - DELHI HIGH COURT] we find that the departmental appeal cannot survive. Accordingly, upholding the conclusion arrived at for the reasons set out herein above, departmental appeal is dismissed and assessee's appeal is allowed. - ITA No. 1376/CHD/2017, ITA No. 1433/CHD/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer u/s 36(1)(iii) of ₹ 73,61,265/- on account of interest on investments. ITA 1433/CHD/2017 : 1. Whether upon facts and circumstances of the case, the Ld. CIT(A was justified in law in deleting the addition made on account of disallowance u/s 14A of the Income Tax Act, 1961 read with rule 8D of the Income Tax Rules 1962? 2. That the order of the Ld. CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... milar addition was confirmed vide order dated 28/12/2015 in Appeal No.. 06/IT/CIT (A)-l/Ldh/2014-15. Following the same precedence, the disallowance of ₹ 73,61,265/-is upheld. It is ordered accordingly. The ground of appeal pertaining to this addition is, thus, dismissed. 3. Inviting attention to the copy of the order of the ITAT available in assessee's own case wherein the IT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , ground raised by the assessee in this appeal is allowed. Specific reasoning taken by the ITAT which is being followed in the present proceedings is reproduced in para 10 of the said order. 5. Addressing the sole issue raised by the Revenue in the present proceedings. The ld. AR submitted that in the facts of the present case, the assessee has not earned any exempt income which fact has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered by the jurisdictional High Court in the case of CIT Vs Lakhani Marketing in ITA 970/2008 and decision of the Delhi High Court in the case of Cheminvest Ltd., we find that the departmental appeal cannot survive. Accordingly, upholding the conclusion arrived at for the reasons set out herein above, departmental appeal is dismissed and assessee's appeal is allowed. Said order was pronounced ..... X X X X Extracts X X X X X X X X Extracts X X X X
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