Home › Income-Tax Act › PCIT v. Karnataka State Financial Corporation Ltd. (2021) 127 taxmann.com 115 (Karn.)(HC) Editorial : Notice issued in SLP filed against order of High Court, PCIT v. Karnataka State Financial Corporation Ltd. (2022) 286 Taxman 356 (SC)

PCIT v. Karnataka State Financial Corporation Ltd. (2021) 127 taxmann.com 115 (Karn.)(HC) Editorial : Notice issued in SLP filed against order of High Court, PCIT v. Karnataka State Financial Corporation Ltd. (2022) 286 Taxman 356 (SC)

S.14A : Disallowance of expenditure-Exempt income-Only expenses proportionate to earning of exempt income could be disallowed [R. 8D]

Dismissing the appeal of the Revenue the Court held that only expenses proportionate to earning of exempt income could be disallowed.  (AY. 2011-12)