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No section 14A Disallowance if There is No Exempt Income
Case Law Details
- Case Name
- Tata Sky Limited Vs. ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-2010
- Courts
- All ITAT, ITAT Mumbai
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Tata Sky Limited Vs. CIT (ITAT Mumbai)
The issue under consideration is whether the disallowance of expenditure under section 14A is justified if there is no exempt income?
In the instant case, the assessee has invested in various investments which, yield exempt income. Further, the assessee has not made suo moto disallowance of expenditure incurred in relation to exempt income u/s 14A of the IT Act, 1961. The AO has disallowed interest expenses and other expenses by invoking Rule 8D(2)(ii)and (iii) on the ground that although the assessee has debited huge interest expenses and other administr...
