How many judgments cite Cheminvest Ltd. v. CIT?

1,569 judgments on BharatTax cite Cheminvest Ltd. v. CIT (378 ITR 33), spanning 2015 to 2026.

Which sections of the Income Tax Act does Cheminvest Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 14A, Section 143(3), Section 8D, Section 115JB, Section 250, Section 1961.

Cheminvest Ltd. v. CIT

378 ITR 33High Court2015#24 most cited

What is Cheminvest Ltd. v. CIT authority for?

A disallowance under Section 14A of the Income-tax Act, 1961, for expenditure incurred in relation to exempt income cannot be made if the assessee has not earned any exempt income during the relevant previous year.

1,569

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2015 to 2026.

Also referred to as

Cheminvest Ltd. v. CIT · Section 14A disallowance · no exempt income · exempt dividend income · expenditure related to exempt income · Section 8D · Section 115JB · Income-tax Act 1961 · Delhi High Court

Also reported as

61 Taxmann.com 118234 Taxmann 761317 ITD 33281 CTR 447

Sections most often in play

Section 14A Section 143(3)Section 8D Section 115JB Section 250 Section 1961 Section 37(1)Section 143(2)

Read the full judgment

Issues it is cited on

disallowance u/s 14a disallowance under section 14a section 14a section 36(1)(iii)section 115jb revenue expenditure section 37(1)section 37 section 36 previous year scrutiny assessment section 115

Judgments citing Cheminvest Ltd. v. CIT

Citrus Check Inns Ltd., Mumbai vs. DCIT Central Circle-2(1), Mumbai

In the result, the appeal by the assessee for A

ITA 1016/MUM/2019[2013-14]Status: DisposedITAT Mumbai06 Sept 2023AY 2013-14

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Hiro Rai a/w Ms. Ritu PunjabiFor Respondent: Shri Manish Sareen

Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.1015/Mum./2019 (Assessment Year : 2012–13) Citrus Check Inns Limited 203–B, Parvati Industrial Estate ……………. Appellant Sunmill Compound, Lower Parel (West) Mumbai 400 013 PAN – AAECC5606P v/s Dy. Commissioner of Income Tax ……………. Respondent Central Circle–2(1), Mumbai ITA no.1016/Mum./2019 (Assessment Year : 2013–14) Citrus Check Inns Limited 203–B, Parvati Industrial Estate ……………. Appellant Sunmill Compound, Lower Parel (West) Mumbai 400 013 PAN – AAECC…

Citrus Check Inns Ltd, Mumbai vs. DCIT Central Circle-2(1), Mumbai

In the result, the appeal by the assessee for A

ITA 1015/MUM/2019[2012-13]Status: DisposedITAT Mumbai06 Sept 2023AY 2012-13

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Hiro Rai a/w Ms. Ritu PunjabiFor Respondent: Shri Manish Sareen

Section 250

M/S Eternal Heart Care Centre & Research Institute Pvt. Ltd., 3A, Jagatpura Road, Near Jawahar Circle, Jaipur vs. PCIT, Jaipur-2, Jaipur

In the result, appeal filed by the assessee is allowed

ITA 263/JPR/2023[2018-19]Status: DisposedITAT Jaipur06 Sept 2023AY 2018-19

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Yogesh Parwal, CA &For Respondent: Shri James Kurian, CIT-DR

Section 142(1)Section 143(2)Section 143(3)Section 14ASection 263Section 271A

…on was dismissed. CIT Vs. Chettinad Logistics (P.) Ltd. (2018) 257 Taxman 2 (SC) SLP dismissed against High Court ruling that section 14A cannot be invoked where no exempt income was earned by assessee in relevant assessment year. Cheminvest Limited Vs. CIT 378 ITR 33 (Delhi) (HC) The High Court held that no disallowance under section 14A can be made in a year in which no exempt income had been earned or received by the appellant. The expression ‘does not form part of the total income’ in section 14A envisages that there should be an actual receipt of income, which was not includible in the total income for the…

ACIT, Cir.-1(1), Kolkata vs. M/S Gold Rush Sales and Service Limited, Kolkata

In the result, the appeal filed by the Revenue and CO by the assessee are dismissed

ITA 18/KOL/2021[2012-13]Status: DisposedITAT Kolkata31 Aug 2023AY 2012-13

Bench: Sri Rajesh Kumar & Sonjoy Sarma

Section 131Section 68

…ted the addition made by Ld. AO u/s 14A of the Act by relying on the decision in Page 9 of 11 I.T.A. No.: 18/KOL/2021 C.O. No. 9/KOL/2021 Assessment Year: 2012-13 M/s. Gold Rush Sales and Service Limited. the case of Cheminvest Ltd. vs CIT reported in [2015] 378 ITR 33 (Delhi) and CIT Vs. Ashika Global Securities Ltd. in ITAT 100 of 2014 GA _2122 of 2014. 10. After hearing the rival contentions and perusing the material on record, we find that undisputedly the assessee has not earned an exempt income during the year and it is a settled position of law that if the assessee has not earned any exempt income, no dis…

Girnar Software Private Limited, 6Th Floor, Jaipur Textile Market, B-2, Near Model Town, Malviya Nagar, Jaipur vs. PCIT – 2, Jaipur, New Central Revenue Building

In the result, the appeal of the assessee is allowed

ITA 330/JPR/2023[2018-19]Status: DisposedITAT Jaipur28 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri PC Parwal, CAFor Respondent: Shri Arvind Kumar (CIT)

Section 142(1)Section 143(2)Section 14ASection 263

…ssed. • CIT vs Chettinad Logistics (P.) Ltd. (2018) 257 Taxman 2 (SC) [PB 89-97]: SLP dismissed against High Court ruling that section 14A cannot be invoked where no exempt income was earned by assessee in relevant assessment year. • Cheminvest Limited vs CIT 378 ITR 33 (Delhi) (PB 98-105): The High Court held that no disallowance under section 14A can be made in a year in which no exempt income had been earned or received by the Appellant. The expression ‘does not form part of the total income’ in section 14A envisages that there should be an actual receipt of income, which was not includible in the total income…

Amadeus India Pvt. Ltd., New Delhi vs. DCIT, Circle-1(1), New Delhi

In the result, assessee’s appeal stands partly allowed as above

ITA 468/DEL/2022[2017-18]Status: DisposedITAT Delhi24 Aug 2023AY 2017-18

Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI CHALLA NAGENDRA PRASAD (Judicial Member)

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR

Section 14ASection 92BSection 92C(3)Section 92F

…see has earned no exempt income. Upon hearing both the sides and perusing the records, we find that this issue is squarely covered in favour of the assessee by the deision of Hon’ble jurisdictional High Court in the case of Cheminvest Ltd. vs. CIT - (2015) 378 ITR 33 (Delhi) and CIT vs. Holcim India (P) Ltd. in ITA No.486/2014. Accordingly, this issue is decided in favour of the assessee. 9 ITA No.468/Del./2022 10. Apropos Ground No.10 : In this ground, assessee has pointed out various errors in the assessment order. We find that in the interest of justice, this issue needs to be remitted to the file of AO t…

Puspak Steel Industries Private Limited, Pune vs. Assistant Commissioner of Income Tax, Circle-10, Pune

In the result, the appeal filed by the assessee stands partly allowed

ITA 852/PUN/2023[2014-15]Status: DisposedITAT Pune22 Aug 2023AY 2014-15

For Appellant: Shri Sarvesh KhandelwalFor Respondent: Shri M. G. Jasnani

Section 143(3)Section 14A

…Hon’ble Supreme Court in the case of CIT vs. Chettinad Logistics P. Ltd., 95 taxmann.com 250 (SC); 6 CIT vs. Continuum Wind Energy (India) Pvt. Ltd., 430 ITR 52 (Mad); (v) PCIT vs. Kohinoor Project Pvt. Ltd., 425 ITR 700 (Bom.); (vi) Cheminvest Ltd. vs. CIT, 378 ITR 33 (Delhi); (vii) MAN Infraprojects Ltd. (ITA No.259 of 2017 dated 09.04.2019) (Bom.). 9. However, a change in law has been brought about the amendment made by the Finance Act, 2022 to section 14A by inserting a non obstante clause and an Explanation after proviso. The amendment is reproduced below :- “Explanation.—For the removal of doubts, it is he…

Mukand Engineers Limited (Since Merged/Amalgamated With Mukand Limited), Mumbai vs. Assistant Commissioner of Income Tax, Circle-3(2)(1), Mumbai

In the result, the appeal by the assessee is partly allowed

ITA 1246/MUM/2023[2017-2018]Status: DisposedITAT Mumbai17 Aug 2023AY 2017-2018

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri M.A. GohelFor Respondent: Smt. Mahita Nair

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 32

…ome from its investments and thus claimed no exemption under section 10(34) of the Act while filing its return of income. The aforesaid fact has also not been disputed by the Revenue. We find that the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT: [2015] 378 ITR 33 (Delhi) held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. We further find that the Hon’ble jurisdictional High Court in Pr.CIT v/s Kohinoor Project (P) Ltd., [2020] 121 taxmann.com 177 (Bom.), rendered similar findings and dismissed the Revenue’s appeal on a similar issue. Since,…

Prime Suitings Private Limited, Bhilwara vs. ITO, Ward-4, Bhilwara

In the result, the appeal of the assessee is partly allowed

ITA 440/JODH/2018[2015-16]Status: DisposedITAT Jodhpur17 Aug 2023AY 2015-16

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteassessment Year : 2015-16 M/S Prime Suitings Pvt. Ltd., D- Income Tax Officer, 5-6, Bhilwara Textile Market, Vs Ward-4, Bhilwara Pur Road, Bhilwara Pan: Aaacp8447P Appellant / Assessee Respondent / Revenue Assessee By None Revenue By Ms. Prerana Choudhary-Jcit-Dr Date Of Hearing 17.08.2023 Date Of Pronouncement 17.08.2023 Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld. Commissioner Of Income Tax (Appeals), Ajmer Dated 06Th June, 2018 Emanating From Assessment Order Under Section 143(3) Passed By Ito, Ward-4, Bhilwara On 30.11.2017. The Assessee Has Raised The Following Grounds Of Appeal:-

Section 143(3)Section 14ASection 271(1)(C)

…he Hon’ble Bombay High Court in the case of PCIT vs. Ballarpur Industries Ltd., in ITA No. 51 of 2016 has held that in absence of exempt income, disallowance under section 14A cannot be made. The Hon’ble Delhi High Court in the case of Cheminvest Ltd. vs. CIT 378 ITR 33 (Del) has also held that section 14A will not apply when exempt income was not earned during the year. 5. In the case under consideration, it is an admitted fact that no exempt income was earned by the assessee during the year. Therefore, respectfully following the Hon’ble High Courts (supra), it is held that disallowance under section 14A is unwa…

M/S Avinash Developers Pvt. Ltd., Raipur vs. Deputy/Assistant Commissioner of Income Tax, Circle-2(1), Raipur

In the result, appeal of the assessee is partly allowed for statical purposes, in terms of our aforesaid observations

ITA 156/RPR/2022[2013-14]Status: DisposedITAT Raipur16 Aug 2023AY 2013-14

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.156/Rpr/2022 (निर्धारण वर्ष / / Assessment Year: 2013-14) M/S. Avinash Developers Pvt. Vs The Deputy/Assistant Ltd. Commissioner Of Income Tax, Avinash House, Maruti Circle-2(1), Raipur (C.G.) Business Park, G.E. Road, Raipur (C.G.)-492 001 Pan No. : Aadca4060E

For Respondent: Shri Satya Prakash Sharma, Sr. DR

Section 115JSection 142(1)Section 143(2)Section 14A

…f Rs.3,82,401/-. We, thus, in terms of our aforesaid observations, are of the considered view that the addition should be restricted to the extent of exempt income i.e. Rs.3,82,401/-. The Hon’ble Delhi High Court in the judgment Cheminvest Ltd. vs. CIT (2015) 378 ITR 33 (Del) has held that if there is no exempt income, there cannot be any disallowance u/s 14A. Similar view has been taken by the Hon’ble Delhi High Court in CIT vs. Holcim India P. Ltd. (2014) 90CCH 081-Del- HC. The net effect of these decisions is that the disallowance u/s 14A gets restricted to the extent of exempt income, even if the provisions o…

Emerson Electric Company (India) Private Limited, Mumbai vs. Addl/Jt/Dy/Asstt/CIT/ITO, Delhi

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 555/MUM/2022[2017-18]Status: DisposedITAT Mumbai14 Aug 2023AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

For Appellant: Shri Dinesh Bafna a/wFor Respondent: Shri R.S. Srivastav

Section 142(1)Section 143(2)Section 143(3)Section 144C(1)Section 144C(13)Section 144C(5)Section 92C

…ssessee received no dividend income from its investments. The aforesaid fact has also not been Emerson Electric Company (India) Pvt. Ltd. ITA no.555/Mum./2023 disputed by the Revenue. We find that the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT: [2015] 378 ITR 33 (Delhi) held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. We further find that the Hon’ble jurisdictional High Court in Pr.CIT v/s Kohinoor Project (P) Ltd., [2020] 121 taxmann.com 177 (Bom.), rendered similar findings and dismissed the Revenue’s appeal on a similar issue. Since,…

ACIT, New Delhi vs. M/S. Vipul Infracon Pvt. Ltd., New Delhi

In the result, the Assessee’s appeal is dismissed and Revenue’s Appeal is dismissed

ITA 891/DEL/2017[2011-12]Status: DisposedITAT Delhi09 Aug 2023AY 2011-12

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Us

For Appellant: Shri Sidhant Arora, CAFor Respondent: Shri Anuj Garg, Sr. DR

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER, AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER I.T.A. No.6480/DEL/2016 A.Y.: 2011-12 M/S VIPUL INFRACON PVT. LTD. ADDL. COMMISSIONER OF 14/185-186, GROUND FLOOR, VS INCOME TAX, RANGE-17, MAIN SHIVALIK ROAD, NEW DELHI MALVIYA NAGAR, NEW DELHI – 110 017 (PAN: AAACT4544M) (ASSESSEE) (RESPONDENT) AND A.Y. : 2011-12 ACIT, CIRCLE 26(2), M/S VIPUL INFRACON PVT. ROOM NO. 192, C.R. VS. LTD. BUILDING, NEW DELHI 14/185-186, GROUND FLOOR, MAIN SHIVALIK ROAD, MALVIYA NAGAR, NEW DELHI – 110 017 (PAN: AAACT4544M) (REVENUE) (…

M/S. Vipul Infracon Pvt. Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the Assessee’s appeal is dismissed and Revenue’s Appeal is dismissed

ITA 6480/DEL/2016[2011-12]Status: DisposedITAT Delhi09 Aug 2023AY 2011-12

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Us

For Appellant: Shri Sidhant Arora, CAFor Respondent: Shri Anuj Garg, Sr. DR

ITO, Ward-5(1), Kolkata vs. Shreen Hire Purchase (P) Ltd, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 22/KOL/2021[2012-13]Status: DisposedITAT Kolkata08 Aug 2023AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No. 22/Kol/2021 Assessment Year: 2012-2013 Income Tax Officer,................................Appellant Ward-5(1), Kolkata Aayakarbhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Shreen Hire Purchase (P) Limited,...........Respondent 89, N.S. Road, Kolkata-700001 [Pan: Aamcs4023L] Appearances By: Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Assessee Shri Vijay Kumar, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue

Section 14ASection 250Section 68

…e disallowance on the ground that since there was no exempt income earned during the year , no 21 Assessment Year: 2012-2013 Shreen Hire Purchase (P) Limited disallowance can be made by relying on the decision of Hon’ble Delhi High Court Cheminvest Ltd. CIT 378 ITR 33 (Del)which is the correct position of law as on date. Accordingly we uphold the order of ld CIT(A) on this issue by dismissing ground no. 9 of the revenue appeal. 13. In the result, the appeal of the Revenue is dismissed. Order pronounced in the open Court on 8th August, 2023. (SonjoySarma) Accountant Member Kolkata, the day of 8th August, 2023…

Prime Centre and Developers Private Limited, Pune vs. Assistant Commissioner of Income Tax, Central Circle-1(1), Pune

In the result, both the appeals are partly allowed

ITA 785/PUN/2023[2014-15]Status: DisposedITAT Pune04 Aug 2023AY 2014-15

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Ravi

Section 14ASection 250Section 8D(2)(iii)

…t has been recorded in para 6 of the order. Against that, the Prime Centre and Developers Pvt. Ltd. disallowance under Rule 8D(2)(iii) has been made and sustained to the tune of Rs.7,00,050/-. 5. The Hon'ble Delhi High Court in Cheminvest Ltd. vs. CIT (2015) 378 ITR 33 (Del) has held that if there is no exempt income, there can be no question of making any disallowance u/s 14A of the Act. Similar view has been taken by the Hon'ble Delhi High Court in CIT vs. Holcim India P. Ltd. (2014) 90CCH 081-Del-HC. 6. It is seen that an amendment has been carried out to section 14A by the Finance Act, 2022 providing that t…

Prime Centre and Developers Private Limited, Pune vs. Assistant Commissioner of Income Tax, Central Circle-1(1), Pune

In the result, both the appeals are partly allowed

ITA 784/PUN/2023[2013-14]Status: DisposedITAT Pune04 Aug 2023AY 2013-14

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Ravi

Section 14ASection 250Section 8D(2)(iii)

M/S Wevin Private Limited, Bangalore vs. Pr. Commissioner of Income-Tax, Circle-7(1)(1), Bangalore

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 367/BANG/2023[2011-12]Status: DisposedITAT Bangalore02 Aug 2023AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2011-12

For Appellant: Shri L. Bharath, A.RFor Respondent: Shri V. Parithivel, D.R

Section 201Section 250Section 254

…Trust Association [1992] 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in IL & FS Energy Development Co. Ltd. (supra) and Cheminvest Ltd. v. CIT [2015] 61 taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi). 10. Accordingly, the appeal and application are dismissed. However, it is clarified that the order passed in the present appeal shall abide by the final decision of the Supreme Court in the SLP filed in the case of IL & FS Energy Development Co. Ltd. (supra)". 22. The Hon’ble Delhi Court in the above has also considered the amendment to s…

Assistant Commissioner of Income Tax (Central Circle)-1, Raipur vs. M/S. Chhattisgarh Steel & Power Limited, Raipur

In the result, appeal of the revenue is partly allowed in terms of our aforesaid observations

ITA 96/RPR/2021[2011-12]Status: DisposedITAT Raipur01 Aug 2023AY 2011-12

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./ Ita No. 96/Rpr/2021 "नधा"रण वष" / Assessment Year : 2011-12

For Appellant: Ms. Puja Bajaj, CAFor Respondent: Shri Piyush Tripathi, Sr. DR

Section 143(2)Section 143(3)Section 14A

…its hand. Our aforesaid view is fortified by the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Chettinad Logistics Pvt. Ltd. (2018) 257 Taxmann 2 (SC) and also of the Hon’ble High Court of Delhi in the case of Cheminvest Limited Vs. CIT, (2015) 378 ITR 33 (Delhi). Backed by the aforesaid judicial pronouncements, it was submitted by the Ld. AR that as per the settled position of law no disallowance u/s.14A in absence of any exempt income could have been made in the hands of the assessee company. In the backdrop of the facts involved in the case before us r/w. the aforesaid settled position of law we…

Elara Capital (India) Private Limited, Mumbai vs. ACIT- Circle 6(2)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1569/MUM/2023[2017-18]Status: DisposedITAT Mumbai31 Jul 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Elara Capital (India) Pvt. Ltd., The Acit-Circle 6(2)(2), Tower 3, 21St Floor, One Room No. 506, 5Th Floor, Vs. International Center, Senapati Aayakar Bhavan, Maharshi Bapat Marg, Elphinstone Karve Road, Mumbai- Road (West), Mumbai-400013. 400020. Pan No. Aabce 6487 B Appellant Respondent

For Appellant: Mr. Milind DattaniFor Respondent: Mr. P.D. Chogule (Addl. CIT)

Section 14A

…Delhi High Court had relied at this conclusion, t ble Delhi High Court had relied upon its earlier decision in the case of Cheminvest Ltd. vs CIT upon its earlier decision in the case of Cheminvest Ltd upon its earlier decision in the case of Cheminvest Ltd (378 ITR 33 378 ITR 33). The relevant extracts of the judgement are as The relevant extracts of the judgement are as under: Era Capital (India) Pvt. Ltd. 12 ITA No. “1. The Revenue's appeal challenges an order of the The Revenue's appeal challenges an order of the The Revenue's appeal challenges an order of the Income Tax Appellate Tribunal (ITAT) which had…

DCIT 3(2), Mumbai vs. Idea Cellular Ltd, Mumbai

In the result, the appeal filed by the assessee is partly allowed for statistical purposes and the appeal filed by the revenue is dismissed

ITA 3674/MUM/2014[2009-10]Status: DisposedITAT Mumbai27 Jul 2023AY 2009-10

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Appellant: Shri J. D. Mistry /Manish PadhiarFor Respondent: Shri T. Shankar, CIT-DR

Section 194Section 250Section 40

…Trust Association [1992] 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in IL & FS Energy Development Co. Ltd. (supra) and Cheminvest Ltd. v. CIT [2015] 61 taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi). 10. Accordingly, the appeal and application are dismissed. However, it is clarified that the order passed in the present appeal shall abide by the final decision of the Supreme Court in the SLP filed in the case of IL & FS Energy Development Co. Ltd. (supra).” 5.3 Respectfully following the same, we direct the ld. AO to delete the disal…