The Tax Publishers2020 TaxPub(DT) 1851 (Ahd-Trib)

INCOME TAX ACT, 1961

Section 14A

As no exempt income was earned by assessee during the year, therefore, no disallowance could be made under section 14A.

Disallowance under section 14A - Expenditure against exempt income - No exempt income during the year -

AO invoked section 14A and made disallowance though no exempt income was earned by assessee.Held: As no exempt income was earned by assessee during the year, therefore, no disallowance could be made under section 14A.

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2008-09 & 2010-11

INCOME TAX ACT, 1961

Section 40A(2)(b)

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