Reopening for non-disclosure of S. 14A disallowance calculation method is invalid

The Nainital Bank Ltd.  Vs Asstt. (ITAT Delhi)

When the assessee furnished all the facts and figures including the earning of the tax free income and the expenditure which was accepted by the learned AO, it is not open for the AO to say that the income escaped assessment because assessee did not reveal the method of arriving at the disallowance made u/s 14A during the assessment proceedings. The assessment proceedings are meant for verification of such thing and to say that no income has escaped assessment

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