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No section 14A disallowance for Taxable dividend
Case Law Details
- Case Name
- PCIT Vs IFFCO LTD (Delhi High Court)
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PCIT Vs IFFCO LTD (Delhi High Court)
In view of Section 14A(1), no deduction is to be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the As per Section 2(45) of the Act, ‘total income’ means the total amount of income referred to in Section 5, computed in the manner laid down in the Act. Therefore, Section 14A pertains to disallowance of deduction in respect of income which does not form part of the total income. Since the dividend received by the assessee from OMIFCO, Oman is chargeable to tax in ...
