Case Law Details
PCIT Vs Techno Trexim (India) Pvt. Ltd. (Delhi High Court)
Introduction: The Delhi High Court, in the case of PCIT Vs Techno Trexim (India) Pvt. Ltd., has issued a significant ruling regarding Section 14A disallowance without exempt income. This analysis delves into the details of the judgment, highlighting key points and implications for taxpayers.
Delay Condonation: The court allowed the condonation of delay in filing and re-filing the appeal, acknowledging the reasons provided by the appellant. This sets the procedural tone for the subsequent analysis of the case.
Issue Under Consideration: The primary issue under consideration revolves around the Tribunal’s order dated 05.09.2022. The focus is on whether the Tribunal erred in deleting the disallowance under Section 14A of the Income Tax Act, 1961, read with Rule 8D of the Income Tax Rules, 1962.
Amount in Dispute: The record indicates that the deletion of the disallowance amounted to Rs.3,81,71,231. This financial aspect is crucial in understanding the impact of the court’s decision on the taxpayer and the revenue.
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