2018 (7) TMI 1425 - HC - Income Tax

Disallowance u/s 14A - Held that - Both the Commissioner and the Appellate Tribunal found as a matter of fact that there was no exempt income for the operation of the relevant Rule. In the light of such concurrent findings and, in particular, the Department failing to demonstrate any error therein, no question of law arises in this matter.

Summary

The High Court of Calcutta dismissed the appeal regarding disallowance of interest and administrative expenses under Section 14A of the Income Tax Act. The court found no exempt income justifying the disallowance. ITAT 100 of 2014 and GA 2122 of 2014 were dismissed, and no costs were awarded.