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No Section 14A Disallowance If Assessee Has No Exempt Income in the Year
Case Law Details
- Case Name
- Reliance Power Ltd Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Reliance Power Ltd Vs DCIT (ITAT Mumbai)
Introduction: The case of Reliance Power Ltd vs. DCIT (ITAT Mumbai) revolves around the interpretation of disallowance under Section 14A of the Income Tax Act. The dispute primarily concerns the computation of disallowance relating to investments yielding exempt income and the applicability of Rule 8D.
Detailed Analysis:
1. Background: Reliance Power Ltd, engaged in power generation projects, filed its return for the assessment year 2015-16, reporting a business loss. The assessing officer made disallowances under Section 14A, partly upheld by the CIT...
