Section 14A not apply if no exempt income was received or receivable during relevant previous year

PCIT  Vs Delhi International Airport Pvt. Ltd. (Delhi High Court)

 present case is covered by the Division Bench judgment in Cheminvest Ltd. vs. CIT, [2015] 61 com 118 (Delhi), wherein this Court has held that the expression ‘does not form part of the total income’ in Section 14A of the Act means that there sho

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