2020 (6) TMI 73

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....mar Parida, Advocate For the Respondent : Shri AR.V. Sreenivasan, JCIT ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER: This appeal of the assessee is directed against the order passed by the Commissioner of Income Tax (Appeals)-11, Chennai dated 20.08.2019 and pertains to the assessment year 2017-18. 2. Shri Saroj Kumar Parida, the Ld. Counsel for the assessee submitted that admittedly there was n....

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....erred by the CIT(A) and nowhere the Apex Court over ruled the judgment of the Madras High Court in Redington India Ltd. The Ld.DR has also clarified that no exempt income was earned by the assessee during the year under consideration. 4. We have considered the rival submissions on either side and perused the material available on record. It is not in dispute that the assessee has not earned any ....

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....ncept, in a year where there is no exempt income, there cannot be a disallowance of expenditure in relation to such assumed income. (Madras Industrial Investment Corporation Ltd. vs. CIT (225 ITR 802)). The language of s.14A(1) should be read in that context and such that it advances the scheme of the Act rather than distort it." Similarly, the Madras High Court in the case of Chettinad Logistics....

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....be difference of opinion with regard to issues arises for consideration. Irrespective of the personal difference of opinion, the CIT(A) while deciding the appeal is bound to follow the judgment of the Apex Court and the jurisdictional High Court. Judicial discipline demand that all authorities in the State of TamilNadu and Pondicherry has to follow the judgment of the Madras High Court including t....