Principal Commissioner Of Income Tax - 1 v. Concord Biotech Ltd

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL No. 294 of 2018 =============================================================PRINCIPAL COMMISSIONER OF INCOME TAX - 1VersusCONCORD BIOTECH LTD ============================================================= Appearance :Mr MANISH R BHATT, Sr Advocate with Mrs MAUNA M BHATT, Advocate for the PETITIONER ============================================================= CORAM:HONOURABLE Mr. JUSTICE AKIL KURESHIandHONOURABLE Mr. JUSTICE B.N. KARIA9[th] April 2018 andHONOURABLE Mr. JUSTICE B.N. KARIA9[th] April 2018 ORAL ORDER(PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) Tax Appeal is admitted for consideration of the following substantial question of law :- “Whether the Appellate Tribunal has erred in law and on facts in deleting the disallowance under Section 14A of Rs. 3,76,068/= ?” Issue pertains to disallowance under Section 14A of the Act. The Tribunal by the impugned judgment came to the conclusion that the assessee had sufficient interest free funds for making tax fee investments. No question of law arises. Tax Appeal is dismissed. [Akil Kureshi, J.] Prakash [B.N Karia, J.]