JUDGMENT

Rajiv Shakdher, J. (Oral)

CM Appl.23547/2023

1. Allowed, subject to just exceptions.

CM Appl.23548/2023

2. This is an application filed on behalf of the appellant/revenue seeking condonation of delay in re-filing the appeal.

2.1. According to the appellant/revenue, the period of delay involved is 60 days.

3. Ms Ananya Kapoor, who appears on behalf of the respondent/assessee, says that she does not oppose the prayer made in the application.

4. The delay is, accordingly, condoned.

5. The application is disposed of in the aforesaid terms.

ITA 266/2023

6. This appeal concerns Assessment Year (AY) 2016-17.

7. The appellant/revenue seeks to assail the order dated 30.08.2022 passed by the Income Tax Appellate Tribunal [in short, "Tribunal"].

8. The only issue which arises for consideration is, whether the Tribunal was right in deleting the disallowance amounting to Rs.5,75,90,145/- under Section 14A of the Income Tax Act, 1961 [in short, "Act"] given the fact that the respondent/assessee has not earned any exempt income.

8.1. Mr Kumar cannot but accept, that the issue raised in the present appeal is covered inter alia by the following judgments:

(i) Cheminvest Ltd. v. CIT, (20