2021 (12) TMI 1378

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..... s Rs.382/-. Ld. AO noted that assessee has huge investments mainly on unquoted strategic investments in subsidiary companies and proceeded to make a disallowance u/s 14A at Rs.21,15,14,527/- u/s 14A of the Act read with Rule 8D(2) of the Income-tax Rules, 1962. CIT (A) referring to the judgments of Hon ble Delhi High Court in case of Cheminvest Limited [ 2015 (9) TMI 238 - DELHI HIGH COURT] and CI .....

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..... 143(3) of the Income-tax Act, 1961 (for short 'the Act') for the assessment year 2015-16. 2. In various grounds of appeal, the only issue raised by the Revenue is restricting the disallowance of Rs.21,15,14,527/- to Rs.382/- by the ld. CIT (A) made u/s 14A of the Act which was exempt income earned by the assessee. 3. From the bare perusal of the impugned order passed by the ld. CIT (A), we find .....

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