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TMI Blog2020 (6) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... td [ 2017 (1) TMI 318 - MADRAS HIGH COURT] wherein as found that there was no disallowance when there was no exempt income. Madras High Court in the case of Chettinad Logistics Pvt. Ltd. [ 2017 (4) TMI 298 - MADRAS HIGH COURT] examined this issue and by following the judgment in Redington India Ltd., found that there cannot be any disallowance when there was no exempt income. In fact, the Revenue filed an appeal before the Apex Court in Chettinad Logistics Pvt. Ltd. The appeal filed by the Revenue was dismissed. In those circumstance, this Tribunal is of the considered opinion, the CIT(A) is not justified in observing that the judgment of Madras High Court in Redington India Ltd., was overruled by the Apex Court [ 2018 (7) TMI 567 - SC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A), the CIT(A) found that the judgment of the Madras High Court in the Redington India Ltd., was overruled by the Apex Court. In fact, the Apex Court confirmed the order of the Madras High Court on identical situation in M/s. Chettinad Logistics Pvt. Ltd. Therefore, the Ld.Counsel submitted that the CIT(A) is not justified in confirming the order of the Assessing Officer. 3. We heard Shri AR.V. Sreenivasan, the Ld. Departmental Representative also. The Ld.DR very fairly submitted that he has gone through the judgment of the Madras High Court in Redington India Ltd., referred by the CIT(A) and nowhere the Apex Court over ruled the judgment of the Madras High Court in Redington India Ltd. The Ld.DR has also clarified that no exempt inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in Redington India Ltd., found that there cannot be any disallowance when there was no exempt income. In fact, the Revenue filed an appeal before the Apex Court in Chettinad Logistics Pvt. Ltd. The appeal filed by the Revenue was dismissed. In those circumstance, this Tribunal is of the considered opinion, the CIT(A) is not justified in observing that the judgment of Madras High Court in Redington India Ltd., was overruled by the Apex Court. 4.1 When the judgment of the Madras High Court in the case of Redington India Ltd., and Chettinad Logistics Pvt. Ltd., was confirmed by the Apex Court, it is binding on the CIT(A). In other words, the CIT(A) has no other way except to follow the judgment of the Madras High Court. There may be diffe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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