Expenditure Attributable to Earning Exempt Income has to be Disallowed u/s 14A of Income Tax Act, Cannot be Treated as Business Expenditure: Supreme Court Rules In Favour of PNB Housing Finance

The Supreme Court has held that Expenditure Attributable to Earning Exempt Income has to be Disallowed under section 14A of Income Tax Act,1961.
Expenditure - Exempt Income - Income Tax Act - Business Expenditure - Supreme Court - taxscan

As a ruling in favour of PNB Housing Finance, the Supreme Court has held that expenditure attributable to earning exempt income has to be disallowed under section  14A of Income Tax Act, cannot be treated as business expenditure. The SLP arose out of impugned final judgment and order passed by the High Court of Delhi…

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