If assessee’s income not exempt u/s. 10 rather same was eligible for deduction u/s. 80P, assessee’s case was not hit by provisions of section 14A

IN THE ITAT DELHI BENCH ‘D’ Assistant Commissioner of Income Tax Vs Kribhco IT Appeal No. 4827 (DELHI) of 2009 Assessment Year- 2006- 07 APRIL 8, 2010 ORDER This is the Revenue’s appeal filed against the order of the Commissioner of Income-tax (Appeals)XXIII, New Delhi, dated October 12, 2008 for the assessment year 2006- 07. 2. The following effective grounds are raised : 1. On the facts and in the circumstances of the case, the learned Commissioner of Income-tax (Appeals) has erred in law and on the facts in deleting the addition of Rs. 2,40,30,424 made by...