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Case Law Details

Case Name : Asstt. Commissioner of Income Tax Vs SIL Investment Ltd. (ITAT Delhi)
Related Assessment Year : 2006-07
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In “CIT v. Hero Cycles” (supra), it was held by the  Punjab & Haryana High Court, inter alia, that the contention of the Revenue that directly or indirectly some expenditure was always incurred, which must be disallowed u/s 14A of the Act and the impact of the expenditure so incurred could not be allowed to be set off against the business income which may nullify the mandate of section 14A, could not be accepted;

and that the disallowance u/s 14A required a finding of inc

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