2022 (9) TMI 1468

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.... ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the Revenue is preferred against the order of the ld. CIT(A) - 29, New Delhi dated 06.08.2019 pertaining to Assessment Year 2014-15. 2. The solitary grievance of the Revenue is that the CIT(A) erred in deleting the addition of Rs. 13,35,28,383/- made by the Assessing Officer u/s 14A of the Income-tax Act, 1961 [hereinafter refe....

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....Officer is uncalled for. 5. After considering the facts and detailed submissions and relying upon certain judicial decisions, the CIT(A) came to the conclusion that since there is no exempt income, no disallowance can be made u/s 14A of the Act. 6. Before us, the ld. DR strongly supported the findings of the Assessing Officer. 7. Per contra, the ld. AR reiterated what has been stated befo....

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....bunal and the Hon'ble Supreme Court dismissed the SLP preferred by the Revenue. 9. In another decision, the Hon'ble High Court of Delhi in the case of Caraf Builders & Constructions [P] Ltd I.T. Appeal No. 1260 of 2018 order dated 13.11.2018 has held that when no taxable income is earned, corresponding expenditure could not be worked out for disallowance. 10. Similar view was taken b....