Delhi HC Upholds ITAT Order Canceling Disallowance

The Delhi HC dismissed Revenue's appeal against the ITAT order canceling disallowance under Section 14A of the Income Tax Act for AY 2010-11. The decision aligned with precedent from Cheminvest Ltd. The Court held no substantial question of law for interference.

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The Delhi High Court dismissed the appeal by the Revenue against the ITAT order canceling the disallowance under Section 14A of the Income Tax Act for AY 2010-11. The ITAT decision was based on the absence of tax imposition income, following a previous court ruling in Cheminvest Ltd. vs Commissioner of Income Tax. The Court found no grounds for interference as no substantial question of law arose.

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