No Exempted Income: ITAT deletes Disallowance u/s14A of Income Tax Act [Read Order]

Exempted - Income - ITAT - Disallowance - Income - Tax - Act - TAXSCAN

The Income Tax Appellate Tribunal, Bangalore Bench, has recently, in an appeal filed before it, held that no disallowance under section 14A shall be made, when no exempt income is earned by the assesse. The aforesaid observation was made by the Tribunal when an appeal was preferred before it by the assessee UKN Properties Pvt….

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