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| The Tax Publishers2020 TaxPub(DT) 2142 (Mum-Trib) : (2020) 183 ITD 0148 : (2020) 205 TTJ 0001 : (2020) 079 ITR (Trib) 0585 INCOME TAX ACT, 19061
Section 14A
As there was no tax exempt income in the relevant previous year, no disallowance under section 14A could have been made.
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Disallowance under section 14A - Expenditure against exempt income - No exempt incpme during the year -
Assessee did not earn any exempt income in the relevant previous year, and yet AO proceeded to make disallowance under section 14A.Held: As there was no tax exempt income in the relevant previous year, no disallowance under section 14A could have been made.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
INCOME TAX [APPELLATE TRIBUNAL] RULES, , 1962
Rule 34(5)
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