No Exempt Income Received or Receivable, No Disallowance under Section 14A: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai held that Section 14A of the Income Tax Act, 1961 will not apply if no exempt income is received or receivable during the relevant previous year. The assessee raised the grievance that the Assessing Officer has erred in restricting the disallowance under section 14A of the Income Tax […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2zHAyuy