Dismissing the appeal of the revenue , the Court held that , Assessing Officer cannot attribute administrative expenses for earning tax free income in excess of total administrative expenditure . ( AY.2008 -09)
PCIT v. Adani Agro (P) Ltd. (2018) 253 Taxman 507 (Guj.)(HC)
S. 14A: Disallowance of expenditure – Exempt income – Assessing Officer cannot attribute administrative expenses for earning tax free income in excess of total administrative expenditure.[R.8D ]