Disallowance u/s. 14A of Income Tax Act cannot exceed exempt income: ITAT Ahmedabad

Mundra International Container Terminal Pvt Ltd Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that disallowance under section 14A of the Income Tax Act cannot exceed exempt income. Thus, disallowance u/s. 14A restricted to the extent of exempt income.

Facts- The assessee has earned dividend income of Rs.25,32,679/

Please become a Premium member. If you are already a Premium member, login here to access the full content.