AO fails to Record Dissatisfaction mandated u/s 14A: ITAT allows Expenditure Claim u/s 14A Incurred in relation to Earning Exempt Income [Read Order]

Assessing Officer has failed to record dissatisfaction as mandated under Section 14A (2) of the Income Tax Act, 1961
assessing officer - ITAT - under section 14 A - Expenditure Claim - Exempt Income - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) allowed the claim of expenditure incurred in relation to earning exempt income under Section 14A, as the assessing officer failed to record dissatisfaction as mandated in the Setion 14A(2) of Income Tax Act, 1961. The assessee has earned income exempt from tax under Section 10…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now