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TMI Blog2022 (1) TMI 480X X X X Extracts X X X X X X X X Extracts X X X X ..... hani Marketing [ 2014 (7) TMI 44 - PUNJAB AND HARYANA HIGH COURT] . Before us, no fallacy in the findings of CIT(A) has been pointed out by the Revenue nor has Revenue placed on record any contrary binding decision in its support. In such a situation, we find no reason to interfere with the order of CIT(A) and thus the ground of Revenue is dismissed. - ITA No. 4940/Del/2018 - - - Dated:- 5-1-202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scrutiny and thereafter assessment was framed u/s. 143(3) of the Act vide order dated 12.12.2017 and the total loss was assessed at ₹ 3,44,07,000/-. Aggrieved by the order of AO, assessee carried the matter before CIT(A) who vide order dated 14.05.2018 in Appeal No. 546/17-18 allowed the appeal of the assessee. Aggrieved by the order of CIT(A), Revenue is now in appeal and has raised the fol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the remark that the person has left. Assessee has not placed on record its changed postal address. In view of these facts, we proceed to dispose of the appeal ex-parte qua the assessee after considering the material on record and after hearing the Learned DR. 5. During the course of assessment proceedings and on perusal of the financial statement, AO noticed that assessee had made investment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition, CIT(A) noted that assessee had not earned any exempt income. He therefore after relying on the decision of Hon'ble Punjab and Haryana High Court in the case of CIT vs. Lakhani Marketing (2014) 272 CTR 0265 (P H) (HC) held that in the absence of any exempt income, no disallowance u/s. 14A of the Act can be made. 7. Aggrieved by the order of CIT(A), Revenue is now in appeal befo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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