Section 14A can’t be invoked in respect to income, for which deduction under Chapter VI-A is claimed
Case Law Details
Case Name : CIT Vs Kribhco (Delhi High Court)
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HIGH COURT OF DELHI
CIT V/s. Kribhco
IT APPEAL NO. 444 OF 2011
Date of Pronouncement – 18th July 2012
JUDGMENT
Sanjiv Khanna, J.
Revenue by this appeal, which pertains to the Assessment Year 2006-07, impugns findings recorded by the Income Tax Appellate Tribunal (tribunal, for short) in their order
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I have not read the full article. But going by the heading, it does not appear to be correct. Income should nmean the ‘net’ income There cannot be a situation where the assessee will not pay tax on the income but will claim deduction of expenses incurred for earning that income.