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TMI Blog2017 (12) TMI 1689X X X X Extracts X X X X X X X X Extracts X X X X ..... n the appeal of the Revenue and the same is accordingly dismissed. See WINSOME TEXTILE INDUSTRIES LTD. [ 2009 (8) TMI 220 - PUNJAB AND HARYANA HIGH COURT], CHEMINVEST LIMITED [ 2015 (9) TMI 238 - DELHI HIGH COURT] - Decided against revenue. - ITA No. 1179/Chd/2017 - - - Dated:- 12-12-2017 - SHRI SANJAY GARG, JUDICIAL MEMBER AND Ms. ANNAPURNA GUPTA, ACCOUNTANT MEMBER For the Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngots, GP Sheets/Coils, GC Sheets, CCL sheets and generation of power. That during the course of assessment proceedings, the Assessing officer noticed that the assessee had made certain investments the income relating to which was exempt from taxation as per the provisions of the Income Tax Act. However, the assessee had not offered any disallowance of expenditure in this respect. The Assessing of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gy P. Ltd. (2014) 45 Taxman.com 116 and further of the Hon'ble Allahabad High Court in the case of CIT Vs. M/s Shivam Motors (P) Ltd (2014) 272 CTR (All) 277 and various other case laws. In all the above referred to case laws, the Hon'ble High Courts have been unanimous to hold that no disallowance is attracted u/s 14A in case the assessee has not earned any income not forming part of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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