No Exempt Income, No Section 14A Disallowance Permissible

KU Power Projects Limited Vs ITO (ITAT Delhi) Wrong Year, No Exempt Income: ITAT Delhi Deletes Section 68 & 14A Additions The Delhi ITAT (SMC), in KU Power Projects Ltd. v. ITO (ITA No. 7096/Del/2025, AY 2017-18; order dated 24.12.2025), has allowed the Assessee’s appeal in full, deleting both the addition u/s 68 and the disallowance u/s 14A r.w. Rule 8D. The AO had made an addition of ₹13.55 lakh u/s 68 by applying a 2% rate on an alleged investment of ₹6.77 crore, and also disallowed ₹28.79 lakh u/s 14A. The Tribunal found that the entire investment pertained to FY 2015-16 (AY 20...