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Case Law Details

Case Name : Ramalinga Mills Ltd. Vs ACIT (ITAT Chennai)
Related Assessment Year : 2014-15
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Ramalinga Mills Ltd. Vs ACIT (ITAT Chennai)

The issue under consideration is whether disallowance of expenditure in relation to exempt income u/s.14A read with Rule 8D of I.T. Rules, 1962 is justified in law?

ITAT states that, the facts borne out from records clearly indicate that the assessee has earned dividend for the impugned assessment year. It is a well settled principles of law that disallowance computed u/s.14A read with Rule 8D shall not swallow entire income earn

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