Disallowance u/s 14A shall not be made when No Demonstrable Evidence has been shown against Expenditure related to Earning of Tax-Free Income: ITAT [Read Order]

Tax-Free Income - ITAT - Disallowance - Demonstrable Evidence - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance under Section 14A of the Income Tax Act, 1961 shall not be made when no demonstrable evidence has been shown against the expenditure related to earning of tax-free income. The assessee has filed its return of income, which was revised disclosing…

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