Unclear basis of Suo-Motu Disallowance of Exempt Income by H T Media Limited: Delhi HC rejects Estimated Disallowance [Read Order]

Suo - Motu - Disallowance - of - Exempt - Income - by - H - T - Media - Limited - Delhi - HC - rejects - Estimated - Disallowance - TAXSCAN

A Division Bench of the Delhi High Court recently held that, the disallowance estimated by the assessee, H T Media Limited, the publisher of Hindustan Times newspaper and Mint for calculation of exempt income was not founded on a clear basis and upheld the findings of the Income Tax Appellate Tribunal(ITAT) and the Assessing Officer…

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