2022 (2) TMI 1264 - SCH - Income Tax

Disallowance u/s 14A r.w.r. 8D - investment in the form of share application money by the company would only result in exempt income - as per HC only expenses proportionate to earning of exempt income could be disallowed under Section 14A of the Act and the decision of MAXOPP INVESTMENT LTD 2018 (3) TMI 805 - SUPREME COURT is an authority for the aforesaid proposition that the provision is relatable to earning of actual income - HELD THAT - ORDER - Issue notice.

Summary

The Supreme Court of India issued a notice in a case tagged with SLP (C) No. 2292 of 2019. No representation was made by the respondent. Justices S. Abdul Nazeer and Krishna Murari were presiding over the case.