2023 (8) TMI 390 - SCH - Income Tax

Disallowance of the assessee s claim of exemption in respect of profit on sale / redemption of investments and Addition u/s 14A Appeal admitted for substantial question of law - Disallowance of 25% of Bogus Risk Inspection Survey Expenses - HC said ITAT restricted the disallowance to 25% on the ground that there was evidence only with respect to part of the claim namely in relation to the inspection charges and entire issue is based on appreciation of evidence and no question of law arises. HELD THAT - This Court is of the opinion that the impugned order does not call for interference. The special leave petition is accordingly dismissed. All pending applications are disposed of.

Summary

The Supreme Court dismissed the special leave petition as it found no reason to interfere with the impugned order. All pending applications were disposed of.