ITAT Deletes Section 14A Disallowance as Subsidiary Investment Yielded No Exempt Income

Huhtamaki India Limited Vs DCIT (ITAT Mumbai) Capital Subsidy for Industrial Expansion Held Non-Taxable Due to Purpose of Scheme; ITAT Removes MAT Addition Because Section 14A Formula Cannot Be Imported into Section 115JB; Subsidy Linked to Plant and Machinery Investment Treated as Capital Receipt by ITAT; ITAT Grants Relief on Section 14A Addition Because No Dividend Was Earned from Subsidiary Investment. The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee concerning Assessment Year 2014-15 and adjudicated multiple issues relating to disallowance ...