TMI Blog2021 (7) TMI 516X X X X Extracts X X X X X X X X Extracts X X X X ..... ES PVT. LTD. [ 2021 (3) TMI 434 - KARNATAKA HIGH COURT] as held only expenses proportionate to earning of exempt income could be disallowed under Section 14A of the Act and the decision of MAXOPP INVESTMENT LTD [ 2018 (3) TMI 805 - SUPREME COURT] is an authority for the aforesaid proposition that the provision is relatable to earning of actual income. The object of Section 14A is to curb the pra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the order dated 12.09.2014 passed by the Income Tax Appellate Tribunal, Bangalore. The subject matter of the appeal pertains to the Assessment year 2010-2011. The appeal was admitted by a bench of this Court vide order dated 18.12.2015 on the following substantial questions of law: a) Whether the Tribunal was correct in deleting the disallowance u/s 14A r.w.r.8D(2)(ii) and 8D(iii) in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts leading to filing of this appeal briefly stated are that the assessee is a Private Limited Company engaged in the business of real estate and construction activities. The assessee while filing the return of income tax for the assessment year 2010-2011 declared the income of ₹ 8,07,523/-. The Assessing Officer passed assessment order under Section 143(3) of the Act dated 12.03.2012 and mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal have been answered in favour of the assessee by this Court vide judgment dated 15.02.2021 passed in I.T.A.No.133/2015 viz., THE COMMISSIONER OF INCOME TAX Vs. M/S QUEST GLOBAL ENGINEERING SERVICES PVT. LTD. 6. The aforesaid submission has not been disputed by the learned counsel for the revenue. 7. In view of submissions and the for the reasons assigned in the judgment dated 15.02. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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