TMI Blog2019 (4) TMI 1814X X X X Extracts X X X X X X X X Extracts X X X X ..... to invoke the provisions of section 14A of the Income Tax Act 1961 and made disallowance of the expenditure. Delhi High Court in case of Cheminvest Ltd. Vs. Commissioner of Income Tax [ 2015 (9) TMI 238 - DELHI HIGH COURT [ held that in such a situation, disallowance of the expenditure under section 14A of the Act would not be permissible. This decision was carried in Appeal filed by the Revenu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that no disallowance u/s 14A of the I.T. Act, is called for, once there is no exempt income received or receivable by the assessee during the relevant previous year? 2. Undisputed facts are that the Respondent Assessee had not received any exempt income during the period relevant to the assessment year 2009-10, despite which Assessing Officer sought to invoke the provisions of section 14A of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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