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Bombay HC: No Section 14A Disallowance Without Exempt Income
Case Law Details
- Case Name
- PCIT Vs Kohinoor Project Pvt. Ltd (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All High Courts, Bombay High Court
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PCIT Vs Kohinoor Project Pvt. Ltd (Bombay High Court)
Bombay High Court Affirms: No Section 14A Disallowance Without Actual Exempt Income
Mumbai, [Current Date]: In a significant pronouncement for corporate taxpayers, the Bombay High Court has affirmed a crucial principle regarding the applicability of Section 14A of the Income Tax Act, 1961. The High Court, in the case of PCIT-6 Vs Kohinoor Project Pvt. Ltd., dismissed an appeal by the revenue, holding that no disallowance under Section 14A, read with Rule 8D, can be made for expenditure incurred in relation to earning exempt...
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