INCOME TAX ACT, 1961

Section 14A

Disallowance under section 14 - Expenditure against exempt income - Whether provisions of section 14A would be applicable prior to assessment year 2007-08 -

Revenue made disallowance under section 14A. Aggrieved, assessee filed an instant appeal challenging applicability of section 14A. Held: In CIT v. Essar Tele holdings Ltd. [2018] 401 ITR 445, it was held that provisions of section 14A would be applicable only from the assessment year 2007-08. Thus, the instant appeal being from an assessment year long prior to that, the issue was answered in favour of the assessee and against the Revenue.

Followed:CIT v. Essar Tele holdings Ltd. [2018] 401 ITR 445

REFERRED :

FAVOUR : In assessee's favour

A.Y. :

SUBSCRIBE FOR FULL CONTENT