TMI Blog2018 (10) TMI 1895X X X X Extracts X X X X X X X X Extracts X X X X ..... Jurisdictional High Court in the case of Redington India Ltd. [ 2017 (1) TMI 318 - MADRAS HIGH COURT] . Following the Jurisdictional High Court decision, supra, we hold that section 14A cannot be invoked and hence, dismiss the Revenue s appeal. - I.T.A. No. 185/Chny/2018 - - - Dated:- 4-10-2018 - Shri N.R.S. Ganesan, Judicial Member And Shri S. Jayaraman, Accountant Member For the Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee filed an appeal before the Ld. CIT(A). The Ld. CIT(A) on the submissions made by the assessee that it has not received any dividend income during the assessment year and the investments, in unlisted companies being strategic investments, section 14A is not applicable etc., applying the decision of this tribunal in the case of ACIT vs M. Baskaran, in ITA No. 1717/Mds/2013 for assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tments in equity shares capable of earning exempt income and claimed no interest expenditure attributable to such investments, thereby attracting the provisions of Sec. 14A read with rule 8D. 2.3 The Ld CIT(A) ought to have noted that as per the decision of the Hon ble Mumbai Bench of the Tribunal in the case of M/s. Daga Capital Management Private Limited (117 ITR 169), Rule SD is applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case clearly falls within the ratio of the Jurisdictional High Court in the case of Redington India Ltd. vs ACIT [2017] 77 Taxmann.com 257 (Mad). Following the Jurisdictional High Court decision, supra, we hold that section 14A cannot be invoked and hence, dismiss the Revenue s appeal. 6. In the result, the Revenue s appeal is dismissed. Order pronounced on Thursday, the 04th day of Oct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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