Section 14A Disallowance Cannot Surpass Exempt Income: Delhi HC 

PCIT Vs Devata Tradelink Ltd (Delhi High Court)

Introduction: Exploring the complex intersection of tax regulations and share transactions, this article delves into the case of PCIT Vs Devata Tradelink Ltd (AY 2008-09). The focus is on the treatment of interest on loans for share purchase, especially when income from shares is categorized as business income.

Background: The case revolves around the assessment year 2008-09 and challenges the order by the In

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