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TMI Blog2019 (6) TMI 1490X X X X Extracts X X X X X X X X Extracts X X X X ..... anatory and the issue involved is squarely covered by the decision of the Division Bench of this Court in HUNTSMAN INTERNATIONAL (INDIA) PVT. LTD. [ 2019 (2) TMI 1457 - BOMBAY HIGH COURT] ruled that when there is no exempt income earned by the assessee, no disallowance under Section 14A of the Act can be made. - Decided against revenue. X X X X Extracts X X X X X X X X Extracts X X X X ..... ade by the Assessing Officer under Section 14A of the Income Tax Act, 1961 r/w Rule 8D of the Rules of the Expenditure incurred by the assessee for earning exempt income. The Tribunal by the judgment which is impugned in this appeal held that the assessee had not earned any exempt income during the year under consideration. The Tribunal, therefore, followed the decision of Delhi High Court in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee has not earned any exempt income during the year under consideration. After consideration of Section 14A, the Delhi High Court followed decisions of certain other High Courts. Section 14A of the said Act provides that for the purpose of computing the total income, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugned judgment of the Appellate Tribunal whereby dis-allowance under Section 14A was ordered to be deleted. No subtantial question of law arises. Appeal is, accordingly, dismissed." 6. Counsel for the assessee also brought to our notice the fact that the Supreme Court in case of CIT Vs.Chettinad Logistics (P) Ltd. 95 taxmann.com 250 has dismissed the Revenue's SLP against the judgment of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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