Bombay HC: No Section 14A Disallowance Without Exempt Income

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

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