2024 (7) TMI 908 - SCH - Income Tax

Disallowance u/s 14A r.w.r. 8D - disallowance u/s 36(1)(iii) - adjustment made u/s. 115JB on disallowance u/s. 14A and foreign exchange fluctuations - HC dismissal of the appeal based on the circumstances and the previous decision. HELD THAT - The judgment which is relied upon in the impugned order has not been interfered with by this Court. It is not disputed that the questions involved therein were the same. Hence, in the facts of the case, no interference is called for. The Special Leave Petition is accordingly dismissed. However, the question of law, if any, is kept open.

Summary

The Supreme Court dismissed the Special Leave Petition as the judgment relied upon was not interfered with. The questions involved were the same, and no interference was deemed necessary. The court kept the question of law open and disposed of the pending application.