2012 (5) TMI 796 - HC - Income Tax

Summary

The Delhi High Court allowed exemption subject to exceptions in the case of ITA 297/2012. The court referred to a previous decision in Maxopp Investment Ltd. regarding the computation of disallowance under Section 14A of the Income Tax Act, 1961. Notice was issued to the respondent for the second issue concerning interest under Section 244A of the Act.