2016 (3) TMI 1374

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....p; ORDER Sanjay Garg,  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.     2. The Revenue has agitated the action of the Ld. CIT(A) in deleting the disallowance of Rs. 1,82,31,213/- made by the Assessing Officer ....

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....e is squarely covered in favour of the assessee by various decisions.  He, in this respect, has relied upon the decision of the co-ordinate bench of the Tribunal in the case of "Garware Wall Ropes Ltd. vs. ACIT" ITA No.5408/M/2012 decided vide order dated 15.01.14 wherein the Tribunal has held that where the assessee has not incurred any expenditure for earning of exempt income and where the ....