In The Pr. Commissioner Of Income Tax-4 v. M/S Hema Engineering Industries Ltd, the High Court (2017) dismissed the appeal. The decision went in favour of the assessee.
Decision: Since the ITAT has merely followed the decision of this Court,no substantial question of law arises.The appeal is, therefore,dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
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*IN THE HIGH COURT OF DELHI AT NEW DELHI+ITA 135/2017
THE PR. COMMISSIONER OF INCOME TAX-4..... Appellant
Through: Mr. Puneet Rai and Mr. Ruchir Bhatia,Advs.
versus
M/S HEMA ENGINEERING INDUSTRIES LTD. ..... RespondentThrough:
CORAM:
HON'BLE MR. JUSTICE S. RAVINDRA BHATHON'BLE MR. JUSTICE NAJMI WAZIRIO R D E R%08.03.2017
The revenue is aggrieved by an order of the ITAT which setaside the disallowance under section 14A, on the premise that thedisallowance was more than the tax exempt income, based upon theruling of this Court in Delhi Cloth Mills Limited vs. DCIT 372 ITR694.
Since the ITAT has merely followed the decision of this Court,no substantial question of law arises.The appeal is, therefore,dismissed.
S. RAVINDRA BHAT, J
MARCH 08, 2017/acm
NAJMI WAZIRI, J
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