Relief to Jite Shipyard Ltd: Delhi HC rules Deductions sought for Expenses Related to Income other than gross Income not valid [Read Order]

Jite Shipyard Ltd - Delhi HC - rules Deductions Expenses Related to Income - gross Income - TAXSCAN

The Delhi High Court has ruled that deductions sought for expenses related to income other than gross income are not valid. The Delhi High Court has granted relief to Jite Shipyard Ltd. The Issue to be decided was that whether disallowance made under Section 14A of the Income-tax Act, 1961 can exceed the exempt income…

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