Disallowance u/s 14 A is allowable only on Investments that yielded Exempt Income: ITAT rules in favour of Reliance Power Ltd [Read Order]
The ITAT observed that while working out disallowance under section 14 A of administrative expenses under rule 8D (2) (iii) of the act, the assessing officer could have been made only after taking only those investments that have yielded exempt income
In the case of Reliance Power Ltd, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14 A of the Income Tax Act, 1961 is allowable only on Investments that yielded Exempt Income. The ITAT observed that while working out disallowance under section 14 A of…
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