Pr. Commissioner of Income-tax-2, Delhi v. Clix Finance India Pvt. Ltd. (Formerly Known As Ge Capital Services India Pvt. Ltd.)
[Citation -2019-LL-0716-55]
Citation | 2019-LL-0716-55 |
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Appellant Name | Pr. Commissioner of Income-tax-2, Delhi |
Respondent Name | Clix Finance India Pvt. Ltd. (Formerly Known As Ge Capital Services India Pvt. Ltd.) |
Court | HIGH COURT OF DELHI AT NEW DELHI |
Relevant Act | Income-tax |
Date of Order | 16/07/2019 |
Assessment Year | 2008-09 |
Judgment | View Judgment |
Keyword Tags | expenditure incurred • dividend • interest on sticky loan |
Bot Summary: | There are two issues urged by the Revenue in the present appeal against the order dated 11th June, 2018 passed by the Income Tax Appellate Tribunal in ITA No. 761/Del/2016 for the Assessment Year 2008-09. One issue concerns interest on 'Sticky Loan'. The said issue stands answered against the Revenue by the order dated 8th February, 2017 passed this Court in ITA No. 67/12 The Court is informed that the Special Leave Petition against the said order also stands dismissed. Accordingly no question requires to be framed on the said issue. The second issue concerns the deletion by the ITAT of an addition under Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules. The ITAT set aside the addition made by the Assessing Officer on the ground that Assessee had not disclosed any expenditure incurred on earning the dividend income. No substantial question of law arises even as regards this issue. |