In the absence of finding recorded by the authorities below that which and how much expenditure has been incurred in relation to an exempted income, disallowance us 14A cannot be made. (AY. 2009-10)
Leela Devi Sankhlecha (Smt.) v. ITO [2024] 109 ITR 260 (Jodhpur) (Trib)
S. 14A: Disallowance of expenditure -Exempt income -Not recording of satisfaction- Disallowance is not justified.[R.8D]