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TMI Blog2022 (9) TMI 1468X X X X Extracts X X X X X X X X Extracts X X X X ..... le Supreme Court in the case of Oil Industry Development Board [ 2019 (3) TMI 1571 - SC ORDER] by which the Hon'ble Supreme Court dismissed the Special Leave Petition preferred by the revenue against the order of the Hon'ble High Court of Delhi [ 2018 (2) TMI 1861 - DELHI HIGH COURT] in which case the Tribunal had held that in the absence of any exempt income, disallowance u/s 14A of any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , ACCOUNTANT MEMBER, AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER For the Assessee : Shri K.V.S.R. Krishna, CA For the Department : Shri Jeetender Chand, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the Revenue is preferred against the order of the ld. CIT(A) - 29, New Delhi dated 06.08.2019 pertaining to Assessment Year 2014-15. 2. The solitary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore the CIT(A) and strongly contended that since the assessee has not earned any exempt income during the year under consideration, therefore, disallowance made by the Assessing Officer is uncalled for. 5. After considering the facts and detailed submissions and relying upon certain judicial decisions, the CIT(A) came to the conclusion that since there is no exempt income, no disallowance can ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al had held that in the absence of any exempt income, disallowance u/s 14A of any amount was not permissible. The Hon'ble High Court of Delhi upheld the order passed by the Tribunal and the Hon'ble Supreme Court dismissed the SLP preferred by the Revenue. 9. In another decision, the Hon'ble High Court of Delhi in the case of Caraf Builders Constructions [P] Ltd I.T. Appeal No. 126 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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