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TMI Blog2018 (1) TMI 509X X X X Extracts X X X X X X X X Extracts X X X X ..... igh Court in the case of Cheminvest Ltd vs. CIT reported in (2015 (9) TMI 238 - DELHI HIGH COURT) wherein it has been held that if there is no exempt income, there can be no question of making any disallowance under section 14 A. Also see CIT vs. Holcim India Pvt. [2014 (9) TMI 434 - DELHI HIGH COURT] - Decided in favor of assessee. - ITA No. 5719/Del/2015 - - - Dated:- 29-11-2017 - SHRI R.S. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eclaring total income of ₹ 2,07,58,510/-. The return was processed under section 143(1) of the Act, and notice under section 143(2) along with questionnaire under section 142(1) of the Act was issued upon the assessee. On receipt of such notices representatives of assessee appeared and filed relevant details as called for by Ld. AO. 2.1. Ld.AO observed that assessee has shown a total amou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8D of the Income Tax Rules, 1962 is deleted and the AO is directed to modify the assessment order accordingly. 3. We have perused the relevant material on record and find that this issue stands settled in favour of assessee by the Hon ble judicial High Court in the case of Cheminvest Ltd vs. CIT reported in (2015) 378 ITR 33, wherein it has been held that if there is no exempt income, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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