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The Tax Publishers2021 TaxPub(DT) 0089 (Del-Trib) INCOME TAX ACT, 1961
Section 14A
In the absence of tax-free income earned during the year, no disallowance was called for under section 14A.
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Disallowance under section 14A - Expenditure against exempt income - No exempt income earned during the year -
Assessee challenged disallowance made by AO under section 14A pleading that no exempt dividend income was earned by assessee during the year. Held: As no dividend was earned during the year, no disallowance was called for under section 14A.
Relied:CIT v. Holcim India Pvt. Ltd. 90 CCH 81 (Del) (HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2012-13
INCOME TAX ACT, 1961
Section 41(1)
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