2018 (3) TMI 1623

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..... f Sec. 14A of the Act by pointing out that in this year it has not earned any income which is exempt from tax. At the time of hearing, the learned representative supported the said assertion by referring to the Profit & Loss Account, wherein also no such income has been reported. - No disallowance u/s 14A - Decided in favor of assessee.
Shri G.S. Pannu, Accountant Member And Shri Ravish Sood, J .....

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..... rores, and as per circular No. 5/2014 dt. 11.02.2014. the expenses relatable to earning exempt income have to be considered for disallowance, irrespective of whether any such income was earned during the year or not." 3. In this appeal, the solitary dispute raised by the assessee arises from the action of CIT(A) in deleting the addition made by the Assessing Officer u/s 14A of the Act amounting t .....

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..... of the Act by pointing out that in this year it has not earned any income which is exempt from tax. At the time of hearing, the learned representative supported the said assertion by referring to the Profit & Loss Account, wherein also no such income has been reported. In fact, in the course of hearing, the learned representative relied upon the decision of the Tribunal in the assessee's own case .....

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