Held that in the absence of clear finding by the AO with reference to the assessee’s accounts as to how the other expenditure claimed by the assessed in respect of its non exempt income were related to its exempt income, disallowance made by the AO was deleted. (AY.2016-17)
Care Ratings Ltd. v. ACIT (2022) 215 TTJ 28 / 210 DTR 123 (Mum)(Trib)
S. 14A : Disallowance of expenditure-Exempt income-No clear findings-Accounts not rejected-Disallowance was vacated. [R. 8D(2)(iii)]