2018 (8) TMI 1149 - SCH - Income Tax

Disallowance u/s 14A read with general principles of section 37(1) of the Income Tax Act, 1961 - expenditure expended wholly and exclusively for the purposes of business or profession - SLP is dismissed on the ground of low tax effect.

Summary

The Supreme Court of India dismissed the special leave petition due to low tax effect. Delay was condoned, and pending applications were disposed of accordingly.