TMI Blog2018 (4) TMI 1972X X X X Extracts X X X X X X X X Extracts X X X X ..... m tax during the year, no disallowance can be made u/s 14A as held by the Hon ble Jurisdictional High Court in the case of Cheminvest Ltd. [ 2015 (9) TMI 238 - DELHI HIGH COURT] Therefore, Ground No.1 is allowed. Nature of expenses - expenditure on amortization of leasehold land - revenue or capital expenditure - HELD THAT:- Assessee issue is covered by the decision of assessee s own case [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de novo. Ground allowed for statistical purposes. - SHRI J.S.REDDY, ACCOUNTANT MEMBER AND SHRI KULBHARAT, JUDICIAL MEMBER For the Appellant : Sh. R.Santhanam, Adv. For the Respondent : Sh. Amit Jain, Sr.DR ORDER PER J.S.REDDY, ACCOUNTANT MEMBER This appeal filed by the assessee against the order of Ld.CIT(A)-VIII, New Delhi dated 20.06.2014 for AY 2010-11 on the foll ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terest attributable to the imaginary and arbitrary additions and the appeal of the appellant deserves to be allowed in all respects. 2. After hearing rival contentions, we find that the assessee has not earned any dividend income during the year. As the assessee has not earned income which is exempt from tax during the year, no disallowance can be made u/s 14A of the Income Tax Act, 1961 (in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure years or for any other business consideration. We are, therefore, unable to appreciate arguments advanced by Ld. Counsel that these advances paid are towards advance rent. Even from the terms of agreements, it is not clear as to whether advances paid has been adjusted against future rent or whether these are in the nature of security deposits which are refundable in nature on termination of ag ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
