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| The Tax Publishers2020 TaxPub(DT) 3696 (Hyd-Trib) INCOME TAX ACT, 1961
Section 14A
In the absence of exempt income earned during the relevant year, there could be no disallowance under section 14A.
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Disallowance under section 14 - Expendi ture against exempt income - No tax free income earned during the year -
Though assesse did not earn any tax free income during the year, AO made disallowance under section 14A. Held: As assessee had not earned any exempt income during the year, there could be no disallowance under section 14A.
Followed:Cheminvest Ltd., (2015) 378 ITR 33 (Del.) : 2015 TaxPub(DT) 3520 (Del-HC) Prathista Industries Ltd., Secunderabad in ITA No. 1302/Hyd/2015, dated 29-4-2016.
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2013-14
IN THE ITAT, HYDERABAD BENCH
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