Disallowance u/s 14 A of Income Tax Act Cannot Exceed Exempt Income: Delhi HC [Read Order]

Disallowance cannot exceed income exempted; Delhi High Court on disallowance under section 14 A of The Income Tax Act, 1961

By Yogitha S. Yogesh - On December 11, 2023 4:30 pm - 3 mins read

Income Tax Act - Disallowance - Exempt Income - Delhi High Court - Income Tax - TAXSCAN

The Delhi High Court has held that disallowance under section 14 A of the Income Tax Act cannot exceed exempt income. The appellant/revenue challenged the order passed by the Income Tax Appellate Tribunal [“Tribunal”]. The Assessing Officer (AO) made an addition amounting to Rs.5,06,73,874/- under Section 14A of the Income Tax Act, 1961…

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Topics

Balance Sheet Commissioner of Income Tax (Appeals)exempt Income Section 14 A of the Income Tax Act