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Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL
Before: SHRI G.D. AGRAWAL & AND & SHRI KULDIP SINGH SHRI KULDIP SINGHSHRI KULDIP SINGH SHRI KULDIP SINGH
PER G.D. AGRAWAL, PER G.D. AGRAWAL, PRESIDENT PER G.D. AGRAWAL, PER G.D. AGRAWAL, PRESIDENT PRESIDENT :- PRESIDENT
This appeal by the Revenue for the assessment year 2011-12 is directed against the order of learned CIT(A)-7, New Delhi dated 12th October, 2015.
At the time of hearing before us, nobody appeared on behalf of the assessee-respondent. An application dated 30th October, 2017 has been filed on behalf of the assessee requesting for adjournment of the hearing on the ground that the counsel is busy in tax audit work. However, since the issue involved in this appeal is covered, the adjournment application of the assessee was rejected and we
2 ITA-155/Del/2016 proceeded to hear the learned DR and decide the appeal of the Revenue ex-parte qua the assessee-respondent.
In this appeal, the Revenue has raised the only ground against the deletion of disallowance made by the Assessing Officer u/s 14A of the Income-tax Act, 1961.
We have heard the arguments of learned DR and perused relevant material placed before us. It is noticed that there is no exempt income in the year under consideration and, therefore, the issue under consideration is squarely covered by the decision of Hon'ble Jurisdictional High Court in the case of Cheminvest Ltd. Vs. CIT – [2015] 378 ITR 33 (Delhi), wherein their Lordships held as under :-
“Held, that no exempted income was earned by the assessee in the relevant assessment year and since the genuineness of the expenditure incurred by the assessee was not in doubt, no disallowance could be made under section 14A.”
Respectfully following the above decision of Hon'ble Jurisdictional High Court, we uphold the order of learned CIT(A) and dismiss the appeal filed by the Revenue.
In the result, the appeal of the Revenue is dismissed. Decision pronounced in the open Court on 02.11.2017.