Disallowance u/s 14A of Income Tax Act shall not be made, if Assessee not  earned any exempt Income during Financial-year: ITAT quashes Revision order [Read Order]

Disallowance - income tax act - revision order - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that disallowance under Section 14A of the Income Tax  Act, 1961 should not be made ,if assessee  not earned any exempt income during financial year. Therefore, the bench quashed the revision order passed by the Principle commissioner of Income Tax. Assessee, Baghban Packaging LLP filed the…

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