The Pr. Commissioner Of Income Tax -3 v. Dune Leasing And Finance Pvt. Ltd

$~2 * IN THE HIGH COURT OF DELHI AT NEW DELHI+ ITA 779/2018 THE PR. COMMISSIONER OF INCOME TAX -3 ..... Appellant Through Mr. Ruchir Bhatia, Advocate. versus DUNE LEASING AND FINANCE PVT. LTD. ..... Respondent Through: Counsel for the respondent ITA 6585/Frl/2016[Assessment Year-2013-14] CORAM:HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE ANUP JAIRAM BHAMBHANI O R D E R% 22.10.2018 The issue raised in the present appeal filed by the Revenue relates to the quantum of disallowance under Section 14A of the Income Tax Act, 1961. The respondent/ assessee had earned dividend income of Rs.10,10,061/- which was in fact offered to tax and was not claimed as exempt income. Nevertheless, the Assessing Officer had made a disallowance of Rs.3,30,25,425/- under Section 14A of the Act. The issue raised in the present case is covered against the Revenue by the decision of the Supreme Court in Maxopp Investment Limited versus Commissioner of Income Tax, New Delhi, (2018) 402 ITR 640(SC) and judgments of this Court in Commissioner of Income Tax-IV versus Holcim India Private Limited, (2014) 272 CTR 282 (Delhi) and Cheminvest Limited versus Commissioner of Income Tax-VI, (2015) 378 ITR 33(Del) and our decision of the even date in ITA No. 725/2018, Principal Commissioner of Income Tax-6, New Delhi versus Mcdonald’s India Private Limited. The appeal is accordingly dismissed. SANJIV KHANNA, J. ANUP JAIRAM BHAMBHANI, J. OCTOBER 22, 2018 MR