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2009 (12) TMI 617 - ITAT DELHIIn the Revenue's appeal, the Revenue has challenged the order of the learned Commissioner of Income-tax (Appeals) in deleting the disallowance made by invoking the provisions of section 14A on the ground that the management expenses attributable to the dividend income disallowed by the Assessing Officer had been deleted Held that- . A perusal of the decision of the Punjab and Haryana High Court clearly shows that for the purpose of making a disallowance under section 14A, a finding of incurring the expenditure for earning the exempt income is absolutely necessary. Here in the present case, it is noticed that the Assessing Officer has not brought out any specific expenditure, which has been incurred by the assessee for earning of exempt dividend income.Therefore appeal of the Revenue is dismissed.
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