Disallowances can’t be made u/s 14A of Income Tax Act Earnings from Exempt Income: ITAT deleted the Addition made in Income [Read Order]

Disallowances Income Tax Act Earnings from Exempt Income - ITAT deleted the Addition made in Income - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowances cannot be made under Section 14A of the Income Tax Act, 1961 earnings from the exempt income hence deleted the additions made in income. The assessee is a partner in the partnership firm and derives income from other sources and claimed…

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