Section 14A Disallowance cannot exceed Exempted Income: ITAT Bangalore

Ambika Ghorpade Vs ACIT (ITAT Bangalore)

The case of Ambika Ghorpade vs. ACIT, heard at the ITAT Bangalore, revolves around the disallowance under section 14A of the Income Tax Act, 1961. Additionally, it addresses disallowance of certain expenses incurred by the assessee under section 37(1) of the Act.

Analysis

• Section 14A Disallowance: The assessee contends that the disallowance under section 14A, calculated using Rule 8

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