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Sec.14A & Rule 8D Disallowance Cannot Exceed Total Expenditure
Case Law Details
- Case Name
- M/s Gillette Group India Pvt. Ltd. Vs Assistant Commissioner of Income Tax (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- ITAT Delhi
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S. 14A Deduction not allowed in respect of expenditure incurred by assessee towards exempt income
As per sub-section (1) of Section 14A, no deduction is to be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of total income. Sub-section (2) of Section 14A provides the procedure for determination of such expenditure by the Assessing Officer. The Board has also prescribed Rule 8D for determining the expenditure incurred by the assessee for earning of exempt income. Thus, the disallowance can be made under sub-section (1) f...
