No section 14A disallowance if no income exempt during relevant period

PCIT Vs Bhilwara Energy Ltd (Delhi High Court) ntroduction: Delve into the recent judgment by the Delhi High Court in the case of PCIT Vs Bhilwara Energy Ltd, focusing on the crucial aspect of Section 14A disallowance. The court’s decision highlights a significant precedent regarding the inadmissibility of such disallowance in the absence of exempt income during the relevant period. Detailed Analysis: The Delhi High Court addressed several applications related to the condonation of delays in filing appeals. After a detailed consideration of the appellant’s submissions, the court gr...