No Disallowance u/s 14A when no Exempt Income earned by Assessee: ITAT dismisses Revenue Appeal [Read Order]
The assessee contested disallowance by AO, arguing that no expenditure was incurred to earn this exempt income
By Manu Sharma - On August 27, 2024 3:54 pm - 2 mins read
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of disallowance under Section 14A of the Income Tax Act, by the Commissioner of Income Tax (Appeals [CIT(A)], on expenditure incurred in relation to income not includible in the total income (exempt income). The Assessing Officer had made a disallowance of ₹35…
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