The Tax Publishers2020 TaxPub(DT) 3796 (Rai-Trib) : (2020) 205 TTJ 0527

INCOME TAX ACT 1961

Section 14A

In the absence of exempt income earned during the year, no disallowance could be made under section 14A.

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

AO made disallowance under section 14A on account of investment made by assessee in equity shares of a company.. Assessee's case was that no exempt income was earned during the year. Held: As there was no exempt income earned by assessee, section 14A could not be invoked and no disallowance can be made.

REFERRED :

FAVOUR : In assessee's favour

A.Y. : 2013-14

INCOME TAX ACT, 1961

Section 251(2)

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