2016 (10) TMI 1014

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..... Bist, D.R. ORDER Sanjay Garg (Judicial Member) The present appeal has been preferred by the Revenue against the order dated 11.03.2015 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2010-11. The Revenue is aggrieved by the order of the Ld. CIT(A) in deleting the disallowance of Rs. 1,93,69,565/- which was made by the Asses....

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.... earning of tax exempt income. 3. In appeal, the Ld. CIT(A), however, deleted the disallowance so made by the AO relying upon various decisions of the higher authorities and observing that since the assessee had not earned any exempt income from the strategic investments made in group companies, hence, no disallowance was attracted in this case under section 14A. Being aggrieved by the above or....

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....aken by the Hon'ble Punjab & Haryana High Court in the case of 'PCIT vs. Empire Package Pvt. Ltd.' in ITA No.415 of 2015 dt.12/1/16 (P&H). The Hon'ble Delhi High Court in the case of "M/s Cheminvest Ltd. vs. CIT" (2015) 61 taxman.com 118, wherein also the assessee had made strategic investments in subsidiaries/Group Companies for retaining control over them but has not received any dividend inc....