|
The Tax Publishers2019 TaxPub(DT) 1971 (Del-HC) INCOME TAX ACT 1961
Section 14A
In the absence of any exempt income, disallowance under section 14A of any amount is not permissible.
|
Disallowance under section 14A - No exempt income earned - Validity -
In the instant appeal revenue challenged the order of Tribunal deleting the disallowance under section 14A holding that in the absence of any exempt income no disallowance under section 14A could be made. Held: Tribunal rightly held that in the absence of any exempt income, disallowance under section 14A of any amount was not permissible.
Followed:Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Del) : 2015 TaxPub(DT) 3520 (Del-HC)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
SUBSCRIBE FOR FULL CONTENT |