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Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL
Before: SHRI G.D. AGRAWALG.D. AGRAWAL & AND BEFORE SHRI G.D. AGRAWALG.D. AGRAWAL & AND SHRI CHANDRA MOHAN GARG SHRI CHANDRA MOHAN GARGSHRI CHANDRA MOHAN GARG SHRI CHANDRA MOHAN GARG
PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP :- PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP This appeal by the Revenue for the assessment year 2009-10 is directed against the order of learned CIT(A)-XVI, New Delhi dated 31st July, 2012.
The only ground raised by the Revenue is against deletion of addition made on account of disallowance u/s 14A amounting to `14 lakhs by the learned CIT(A).
We have heard both the sides and perused relevant material placed before us. We find this issue to be covered in favour of the assessee by the decision of Hon'ble Jurisdictional High Court in the case of Cheminvest Limited Vs. CIT-VI in order dated 2nd September, 2015 and CIT-IV Vs. Holcim India P.Ltd. in ITA
2 ITA-5782/Del/2012 No.486/2014 & 299/2014, order dated 5th September, 2014, wherein Hon'ble Jurisdictional High Court has held that if there is no exempt income, then no disallowance u/s 14A of the Act can be made. Admittedly, in the case of the assessee, there is no exempt income. Therefore, respectfully following the above decisions of Hon'ble Jurisdictional High Court, we delete the disallowance made u/s 14A of the Act.
In the result, the appeal of the Revenue is dismissed. Decision pronounced in the open Court on 15.12.2015.