Section 14A will not apply if no exempt income is received or receivable

DCIT Vs M/s. Ambuthirtha Power P. Ltd. (ITAT Bangalore)

The issue in Maxopp Investment Ltd’s. case (supra) was whether the expenditure (including interest on borrowed funds) in respect of investment in shares of operating companies for acquiring and retaining a controlling interest therein was disallowable under Section 14A of the Act. In the said case admittedly there was dividend ear

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