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)
Related Assessment Year :
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All High Courts 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 dated 8th April, 2010 on the question of disallowance under Section 14A of the Income Tax Act, 1961 (Act, for short).
2. The respondent-assessee is a cooperative society and comes within the administrative control of the Department of Fertilizers, Ministry of Agriculture and C...
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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.