2024 (8) TMI 631

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..... PER B.R. BASKARAN, A.M : The assessee has filed this appeal challenging the order dt. 01-05-2024 passed by the learned Commissioner of Income Tax (Appeals)-NFAC, Delhi (in short "Ld.CIT(A)") and it relates to AY. 2017-18. The only issue adjudicated by the assessee in this appeal relates to the disallowance of Rs. 26.83 lakhs made by the AO u/s. 14A of the Income Tax Act, 1961 ("the Act"). 2. D .....

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..... d.AR submitted that the Hon'ble Delhi High Court in the case of Era Infrastructure (India) Ltd., (2022) 448 ITR 674 has held that disallowance u/s. 14A of the Act is not required to be made when the assessee has not earned any exempt income. It was further held that the amendment brought out by the Statute in Section 14A of the Act w.e.f. 01-04-2022, making the disallowance u/s. 14A of the Act man .....

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