No Application of S.14A Income Tax Act, If No Exempt Income received or receivable during relevant previous year: ITAT [Read Order]

Income Tax Act - Income Tax - Tax - Income received - ITAT - Exempt Income - taxscan

The Mumbai Bench of the Income Tax Appellate Tribunal( ITAT ) held that there is no application of Section 14A Income Tax Act, if no exempt income received or receivable during relevant previous year, During the course of assessment proceedings, the assessee, Keystone Realtors Pvt Ltd was asked to show cause why the disallowance under…

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