The Tax Publishers2019 TaxPub(DT) 2930 (Chen-Trib)

INCOME TAX ACT, 1961

Section 14A

Since assessee had not earned any dividend income in the assessment year under consideration, therefore, no disallowance under section 14A read with rule 8D could be made.

Disallowance under section 14A - Expenditure against exempt income - Exempt income not earned by assessee - Validity of

Assessee contended that it did not earn any exempt income in the relevant assessment year and therefore, no disallowance under section 14A read with rule 8D was warranted. Held: Since assessee had not earned any dividend income in the assessment year under consideration, therefore, no disallowance under section 14A read with rule 8D could be made.

REFERRED : M/s. Redington (India) Ltd. v. Addl. CIT (2017) 392 ITR 633 (Mad) : 2017 TaxPub(DT) 0345 (Mad-HC)

FAVOUR : In assessee's favour

A.Y. :



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