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2019 (7) TMI 614 - GUJARAT HIGH COURTDisallowance u/s 14A - CIT(A) deleted the suomotu disallowance made by the assessee and upheld by ITAT - Tribunal held that no disallowance u/s 14A in absence of exempt income - HELD THAT:- Tribunal concurred with the findings recorded by the CIT(A) that Section 14A of the Act can be invoked only if the assessee seeks to square off the expenditure against the income which does not form part of the total income under the Act, and in such circumstances, Section 14A of the Act could not have been invoked, more particularly, when no exempt income was earned in the relevant assessment years. The Tribunal has relied on various decisions including the decision of this Court in the case of Corrtech Energy Private Limited, [2014 (3) TMI 856 - GUJARAT HIGH COURT] Tribunal also concurred with the findings recorded by the CIT(A) that the mistake or inadvertence on the part of the assessee whereby an income not taxable is wrongly offered for tax will not operate as any kind of estoppel against the assessee regardless whether the revised return was filed or not. If the assessee is in a position to show that it has been over assessed on account of his own mistake, the Revenue is obliged to assess the correct income. - decided against assessee.
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