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The Tax Publishers2019 TaxPub(DT) 7935 (Bom-HC) INCOME TAX ACT, 1961
Section 14A
Disallowance under section 14A cannot be more than exempt income itself.
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Disallowance under section 14A - Expenditure against exempt income - Disallowance more than the exempt income itself -
AO made disallowance under section 14A towards expenditure incurred in relation to exempt income. Held: Disallowance under section 14A could not be made by AO more than exempt income itself.
Followed:Nirved Traders Pvt. Ltd. v/s. Deputy Commissioner of Income Tax (IT Appeal No. 149 of 2017
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
INCOME TAX ACT, 1961
Section 260A Section 14A
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