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TMI Blog2021 (9) TMI 214X X X X Extracts X X X X X X X X Extracts X X X X ..... orities below and delete the entire addition. Accordingly, appeal of the Assessee is allowed. - ITA.No.1220/Del./2018 (Assessment Year 2014-2015) - - - Dated:- 3-3-2021 - SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER For Assessee: Shri R.S. Singhvi, C.A. For Revenue: Shri Gurmel Singh, Sr. D.R. ORDER PER BHAVNESH SAINI, J.M. This appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r appeal. The A.O. issued show cause notice as to why interest be not disallowed under section 14A of the I.T. Act, 1961. The A.O. while applying Rule 8D of the I.T. Rules, made disallowance of ₹ 24,27,800/- under section 14A of the I.T. Act, 1961. 3.1. The assessee contended before the Ld. CIT(A) that since assessee has not claimed any exempt income in assessment year under appeal, there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the impugned order and also the submissions made by the parties, we find that it is an undisputed fact that the assessee has not earned any dividend or any kind of exempt income during the year. Whence there is no exempt income claimed by the assessee, then the ratio laid down by the Hon ble Jurisdictional High Court in Cheminvest Ltd. vs. CIT (Supra) that if the assessee has not earned any ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. However, the Order of the Ld. CIT(A) for the A.Y. 2012-2013 have already been set aside and similar addition have been deleted by the Tribunal. The issue is, therefore, covered by the Order of the ITAT, Delhi B-Bench, Delhi Dated 20.04.2017 in the case of the same assessee for the A.Y. 2012-2013 (supra). Following the same, we set aside the Orders of the authorities below and delete the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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