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PCIT v. Urban Infrastructure Holding (P.) Ltd. (2023) 294 Taxman 496 (Bom.)(HC) Editorial : Arising from order of ITA No. 1979/Mum / 2015 dated 31-3 2017. (AY. 2009-10)

S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned-Question of law admitted.[R.8D, 260A]

The following question of law is admitted.

“ Whether on the facts and circumstances of the case and in law the Hon’ble the ITAT was right in deleting the disallowance  of Rs. 8, 58, 32, 156  under section 14A r. w. Rule 8D when no exempt income was earned by the assesseee ?”