DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

14A. 23.2 We also hold that the Ld. CIT(A) in his impugned order has rightly held that in view of the judgment of Hon’ble Supreme Court of India in case of Oil Industry development board case has held that “ In the absence of any exempt income, no disallowance can be made.” 23.3 We therefore find no infirmity