2017 (10) TMI 1336 - HC - Income Tax

Disallowance u/s.14A - Tribunal deleted addition - Held that - Tribunal has relied on its judgment in case of this very assessee in earlier assessment years. Both sides brought to our notice the judgment of this Court in case of Commissioner of Income tax Ahmedabad IV v. Banaskantha Dist. Co. Op. Milk Producers Union Ltd 2014 (5) TMI 12 - GUJARAT HIGH COURT confirming the decision of the Tribunal. Appeal dismissed.

Summary

The Gujarat High Court dismissed the Revenue's appeal against the Income Tax Appellate Tribunal's judgment, which deleted the disallowance under section 14A of the Act amounting to Rs. 2,12,25,108. The Tribunal's decision was based on its earlier judgment in the case of the same assessee. The Court referred to a previous judgment confirming the Tribunal's decision.