2017 (8) TMI 134 - HC - Income Tax

Tax appeal is admitted for consideration of following substantial question of law Whether the Income Tax Appellate Tribunal was justified in remanding the proceedings before the Assessing Officer for fresh consideration of disallowance under Section 14A of the Act with a direction that if finally disallowance under Section 14A is to be made then the amount thereof in no case shall exceed the exempt income earned by the assessee during the year under consideration?

Summary

The Gujarat High Court admitted a tax appeal to consider the substantial question of law regarding the remand of proceedings by the Income Tax Appellate Tribunal for fresh consideration of disallowance under Section 14A of the Act.