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2018 (11) TMI 1057 - DELHI HIGH COURT
Disallowance u/s 14A - Method for determining amount of expenditure in relation to income not includible in total income - principle of apportionment of expenses - Held that:- In view of the ratio in Maxopp Investment Ltd.[2018 (3) TMI 805 - SUPREME COURT OF INDIA], Holicim India P.Ltd. (2014 (9) TMI 434 - DELHI HIGH COURT) and Cheminvest Ltd.[2015 (9) TMI 238 - DELHI HIGH COURT] no substantial question of law that arises for consideration wherein held that Section 14A will not apply if no exempt income is received or receivable during the relevant previous year. - Decided in favour of assessee.