Pr. CIT v. Hero Corporate Service Ltd.

SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2019 TaxPub(DT) 0285 (SC) : (2019) 262 TAXMAN 0029

INCOME TAX ACT, 1961

Section 261 Section 14A

Where the department preferred SLP to appeal against the judgment of Delhi High Court in Pr. CIT v. Hero Corporate Service Ltd. [ITA No. 768/2017, dt. 30-1-2018] : 2019 TaxPub(DT) 287 (Del-HC),.whereby the High Court held that as against the exempt income of Rs. 48,4474, the assessee had itself offered Rs. 2,58,620 as disallowance. AO however, disallowed the astronomically high figure of Rs. 3,57,82,473, which could not be held as justified.

Appeal (Supreme Court) - Special leave petition - Disallowance under section 14A - Expenditure against exempt income--Assessee itself offered disallowance

Department preferred SLP to appeal against the judgment of Delhi High Court in Pr. CIT v. Hero Corporate Service Ltd. [ITA No. 768/2017, dt. 30-1-2018] : 2019 TaxPub(DT) 287 (Del-HC), whereby the High Court held that as against the exempt income of Rs. 48,4474, the assessee had itself offered Rs. 2,58,620 as disallowance. AO however, disallowed the astronomically high figure of Rs. 3,57,82,473, which could not be held as justified. Held: The supreme court candoned delay and dismissed the SLP .

Affirmed:Pr. CIT v. Hero Corporate Service Ltd. [ITA No. 768/2017, dt. 30-1-2018] : 2019 TaxPub(DT0 287 (Del-HC).

REFERRED :

FAVOUR : SLP dismissed.

A.Y. :

IN THE SUPREME COURT OF INDIA