Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCIT’s unnecessary revision [Read Order]
ITAT emphasized the essentials of invoking section 236, Setting aside the unnecessary revisional order of PCIT
By Kavi Priya - On August 12, 2024 12:03 pm - 2 mins read
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) criticized the Principal Commissioner of Income Tax for not recognizing that the assessee had already disallowed a higher amount of expenses than the exempt income they received and set aside the unnecessary revisional order of the PCIT. It emphasized the essential of invoking section…
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