Disallowance u/s 14A - precondition of applicability of Sec 14A ...

Tribunal Rules Section 14A of Income Tax Act Inapplicable Due to Lack of Evidence on Interest and Exempted Income Link.

June 13, 2023

Case Laws Income Tax AT

Disallowance u/s 14A - precondition of applicability of Sec 14A - interest paid on loan / borrowed funds - The tribunal held that the precondition of applicability of Section 14A had not been fulfilled in the present case and that there was no discussion as to how interest payment had been incurred in relation to some exempted income. Therefore, the disallowance made under Section 14A was directed to be deleted. - AT

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Disallowance u/s 14A - precondition of applicability of Sec 14A ...

Tribunal Rules Section 14A of Income Tax Act Inapplicable Due to Lack of Evidence on Interest and Exempted Income Link.

June 13, 2023

Case Laws Income Tax AT

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