Dismissing the appeal of the revenue the Court held that, explanation of assessee and amount offered to tax under said section could not have been rejected by Assessing Officer in arbitrary manner.
PCIT v. Hero Corporate Service Ltd. (2019) 103 taxmann.com. 199 / 262 Taxman 30 (Delhi ) (HC) Editorial : SLP of revenue is dismissed, PCIT v. Hero Corporate Service Ltd. (2019) 262 Taxman 29 (SC)
S. 14A : Disallowance of expenditure – Exempt income -Explanation offered cannot be rejected arbitrarily by the AO. [R.8D]