Investments on which no dividend income is earned should be excluded for calculation of disallowance u/s 14A-Living Media India Ltd [2015] 61 taxmann.com 206 (Delhi - Trib.)

Battery of Cases u/s 14A relied upon by assessee:
Delhi High Court in the case of CIT v. Holcim India (P.) Ltd. [2015] 57 taxmann.com 28 and

1.		Dy. CIT v. Jindal Photo Ltd. [IT Appeal No. 4539 (Delhi) of 2010];
2.		CIT v. Jindal Photo Ltd. [IT Appeal No. 87 (Delhi) of 2012];
3.		Dy. CIT v. Jindal Photo Ltd. [IT Appeal No. 814 (Delhi) of 2011] ;
4.		Dy. CIT v. Orient Craft Ltd. [2012] 148 TTJ (Delhi) 213 (sic) ;
5.		Asstt. CIT v. SIL Investment Ltd.[2012] 54 SOT 54/26 taxmann.com 78 (Delhi) ;
6.		ITO v. Arihant Advertising (P.) Ltd. [IT Appeal No. 2750 (Delhi) of 2011] ;
7.		Justice Sam P. Bharucha v. Addl. CIT [2012] 25 taxmann.com 381/53 SOT 192 (URO) (Mum.)
8.		Siva Industries & Holdings Ltd. v. Asstt. CIT [2011] 46 SOT 112 (URO)/11 taxmann.com 404 Chennai) ;
9.		Mercantile Capital and Finance Services (P.) Ltd. [IT Appeal No. 2571 (Delhi) of 2011]
10.		REI Agro Ltd. v. Dy. CIT [2013] 144 ITD 141/35 taxmann.com 404 (Kol.) ;
11.		CIT v. Consolidated Photo and Finvest Ltd. [2013] 358 ITR 310/[2012] 211 Taxman 184/[2012] 25 taxmann.com 371 (Delhi) ;
12.		CIT v. REI Agro Ltd. [IT Appeal No. 161 of 2013] ;
13.		CIT v. Holcim India (P.) Ltd. [2015] 57 taxmann.com 28 (Delhi) ;
14.		Delite Enterprises [IT Appeal No. 110 of 2009];
15.		CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204 (Punj. & Har.);
16.		CIT v. Corrtech Energy (P.) Ltd. [2015] 372 ITR 97/[2014] 223 Taxman 130/45 taxmann.com 116 (Guj) ;
17.		CIT v. Shivam Motors (P.) Ltd. [IT Appeal No. 88 of 2014]
18.		CIT v. Lakhani Marketing Inc. [2014] 226 Taxman 45 (Mag.)/49 taxmann.com 257 (Punj. & Har.) ;
19.		JM Financial Ltd. v. Asstt. CIT [IT Appeal No. 4521 (Mum.) of 2012] ;
20.		EIH Associated Hotels v. Dy. CIT [IT Appeal No. 1503 (Mds.) of 2012];
21.		CIT v. Oriental Structural Engineers (P.) Ltd. [2013] 216 Taxman 92 (Mag.)/35 taxmann.com 210 (Delhi) ;
22.		Dy. CIT v. GDA Finvest & Trade (P.) Ltd. [2015] 68 SOT 362 (URO)/57 taxmann.com 62 (Delhi)
23.		CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd. [2014] 221 Taxman 479/42 taxmann.com 270 (Guj) ;
24.		CIT v. UTI Bank Ltd. [2013] 215 Taxman 8 (Mag)/32 taxmann.com 370 (Guj.) ;
25.		Asstt. CIT v. Champion Commercial Co. Ltd. [2012] 26 taxmann.com 342/139 ITD 108 (Kol.); and
26.		REI Agro Ltd. (supra).