2014 (6) TMI 175

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....m Uzind Corporation and offered for taxation as business income alleging the same as salary income. At the outset, the ld. AR was fair enough to accept that this issue has been decided by the Hon'ble Delhi High Court against the assessee in his own case. He submitted that an SLP has been admitted by the Hon'ble Supreme Court against the judgment of the Hon'ble Delhi High Court. In view this background of facts, the ld. AR agreed that his appeal was liable to be dismissed. 3. Since the Hon'ble Delhi High Court has decided similar issue against the assessee in the preceding years, respectfully following the precedent, we uphold the impugned order on this issue. 4. The first issue raised by the Revenue in its appeal is against the deleti....

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....es' without granting any deduction for certain expenses which were originally claimed by the assessee. Thus, it can be seen that there is no business income left with the assessee and consequently there are no expenses for which any deduction could be allowed under Chapter IV-D of the Act. Once there is no expenditure claimed as deduction by the assessee, there can be no question of making any disallowance u/s 14A because the disallowance under this section pre-supposes the claim for deduction of expenses. Unless there is a deduction for any expenditure incurred by the assessee, there cannot be any disallowance u/s 14A. On a specific query the ld. DR could not point out any claim of deduction by the assessee for expenses. We, therefore, uph....