No disallowance of expenditure u/s 14A of Income Tax Act in absence of dividend Income from investments in equities: ITAT [Read Order]

By Aparna. M - On September 7, 2023 2:00 pm - 2 mins read

No- disallowance - expenditure- Income- Tax- Act - absence - dividend- Income - investments - equities-ITAT-TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that there shall be no disallowance of expenditure under section 14A of Income Tax Act, 1961 in absence of dividend Income from the investments in equities. Assessee, Emerson Electric Company (India) Pvt. Ltd. is engaged in the business of developing and exporting software, providing engineering services…

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