2018 (11) TMI 561 - HC - Income Tax

Disallowance u/s 14-A - AO had proceeded to calculate the disallowance based upon the investments made by the assessee - Held that - As the Revenue accepts that the assessee had not earned any exempt income in the Assessment Year in question. In view of the aforesaid accepted factual position, no substantial question of law arises

Summary

The Delhi High Court dismissed the Revenue's appeal for the Assessment Year 2013-14 in ITA No. 646/2018, involving GVK Project and Technical Services Limited. The Revenue accepted that the assessee did not earn any exempt income for that year. Consequently, no substantial question of law arose, leading to the dismissal of the appeal with no order as to costs.