Addition for non-existent income from carbon credits is not acceptable

M/s. Sri Chamundeswari Sugars Ltd. Vs DCIT (ITAT Bangalore)

FACTS –

Disallowance u/s 14A r.w.r 8D – Assessee submitted that AO must establish that the borrowed funds have been deployed in making investments that yield exempt income.

Disallowance of Professional fees as capital expenditure – Assessee submitted that they had proposed increased in share capital and hence professionals were hired for f

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