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TMI Blog2015 (7) TMI 1320X X X X Extracts X X X X X X X X Extracts X X X X ..... ARKETING INCL [ 2014 (7) TMI 44 - PUNJAB AND HARYANA HIGH COURT] - Decided in favour of assessee. - ITA No.4108/Del./2013 (ASSESSMENT YEAR : 2009-10) - - - Dated:- 10-7-2015 - Shri R.S. Syal And Shri A.T. Varkey, JJ. Assessee By: Shri G.C. Srivastava, Advocate and Shri Saurabh Srivastava, FCA Revenue By: Shri P. Dam Kanunjna, Senior DR ORDER A.T. Varkey, This appeal, at the instance of the assessee, is directed against the order of the Commissioner of Income-tax (Appeals)-XVI, Delhi dated 03.04.2013. The relevant assessment year is 2009-10. 2. The sole ground of appeal is against the confirmation of the addition made by the AO amounting to ₹ 1,36,94,050/- ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved by the said order of the AO, the assessee preferred an appeal before the ld. CIT (A) who was pleased to confirm the said addition made by the AO. 5. The ld. AR took our attention to page 3 para 3.3.2 of the AO s order and pointed out that assessee had not earned dividend income or tax free income in the instant assessment year which fact has not been controverted by the AO before proceeding to disallow by invoking the provisions of section 14A read with Rule 8D. He relied on the decision of Hon ble Delhi High Court in the case of CIT vs. Holcim India P. Ltd. reported in 2014-TIOL-1586-HC-DEL-IT wherein the Hon ble High Court has held that section 14A cannot be invoked when no exempt income was earned. 6. On the other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... second decision is of the Gujarat High Court in Commissioner of Income Tax-I Vs. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj.). The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax (Ii) Kanpur, Vs. M/s. Shivam Motors (P) Ltd. decided on 05.05.2014. In the said decision it has been held: As regards the second question, Section 14A of the Act provides that for the purposes of computing the total income under the Chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the Act. Hence, what Section 14A provides is that if there is any income which does not fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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