2018 (10) TMI 1343 - AT - Income Tax

Disallowance u/s 14A - Assessee had not claimed exempt income - Held that - CIT-A had deleted the disallowance u/s.14A r.w.r. 8D relying on a decision of this Tribunal in assessee s own case for assessment year 2010-2011. We also find that the Hon ble Jurisdictional High Court in the case of Redington India Ltd vs. Addl. CIT 2017 (1) TMI 318 - MADRAS HIGH COURT had held that Section 14A of the Act had no application when assessee had not claimed exempt income. - Decided in favour of assessee.

Summary

The Appellate Tribunal ITAT Chennai dismissed the Revenue's appeal against the order of the ld. Commissioner of Income Tax (Appeals), which deleted a disallowance made under Section 14A of the Income Tax Act. The Tribunal upheld the deletion based on previous decisions and the principle that Section 14A does not apply when no exempt income is claimed. The appeal of the Revenue was dismissed on September 11, 2018.