In absence of claim of exempt Income disallowance U/s 14A not warranted

Pr. CIT Vs Harsha Engineerings Ltd. (Gujarat High Court)

Section 14A of the Act can be invoked only if the assessee seeks to square off the expenditure against the income which does not form the part of the total income under the Act and in such circumstances, section 14A of the Act could not have been invoked, more particularly, when no exempt income claim was earned in the relevant assessment years.

FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT

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