Dismissing the appeal of the Revenue , the Court held that Disallowance under Section14A cannot exceed the exempt income. (AY.2004 -05)
(ITA NO.661 of 2018 dt .8-1 -2025 )
PCIT v. Tata Industries Ltd ( Bom)( HC) www.itatonline .org
S .14A : Disallowance of expenditure – Exempt income – Disallowance under Section14A cannot exceed the exempt income – No substantial question of law.[ S.260A ]
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