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of <h1>Delhi HC dismisses appeal on Section 14A; disallowance exceeds investment value, diverges from precedent.</h1> <h3>PR. COMMISSIONER OF INCOME TAX-04, DELHI Versus M/s INDIABUILS CAPITAL SERVICES LTD.</h3> The Delhi HC dismissed the appeal as the issue regarding Section 14A was settled by precedent. The disallowance amount surpassed the investment value, ... Disallowance u/s 14A - HELD THAT:- Question in this case is squarely covered by the decision of this court in ACB India v. Assistant Commissioner of Income Tax [2015 (4) TMI 224 - DELHI HIGH COURT] . Furthermore, the disallowance calculated exceeded the value of investment itself and is therefore, contrary to the ruling in Cheminvest Ltd. v. Commissioner of Income Tax [ 2015 (9) TMI 238 - DELHI HIGH COURT] . As such, no question of law arises in the present appeal. The Delhi High Court dismissed the appeal as the question of law regarding Section 14A was covered by previous court decisions. The disallowance calculated exceeded the investment value, contrary to a previous ruling.
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