S.14A : Disallowance of expenditure-Exempt income-Insertion of Explanation to Section 14A by Finance Bill, 2022-Held prospective in nature-The ITAT’s order is set aside and orders of the CIT (Appeals) is affirmed.[S. 260A, R.8D]
Williamson Financial Services Ltd. v. CIT (2024) 301 Taxman 102 (Gauhati)(HC) Editorial : Order of Tribunal in ACIT v. Williamson Financial Services Ltd(2022) 196 ITD 422 / 218 TTJ 649/ 216 DTR 137 (Guwahati)(Trib) is reversed.