No Disallowance shall be made u/s 14A of Income Tax Act when assessee have own funds more than Investments earning Exempt Income: ITAT grants relief to macro tech Developers [Read Order]

macro tech Developers - Income Tax Act - Investments earning Exempt Income - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai bench held that no disallowance should be made under Section 14A of the Income Tax Act, 1961, when assessees have their own funds exceeding investments earning exempt income. The bench granted relief to Macrotech Developers. Macrotech Developers Limited, engaged in real estate, construction, and development, revised its return…

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