Dismissing the appeal of the Revenue the Court held that, disallowance cannot exceed the exempt income. No substantial question of law. (AY. 2015-16)
PCIT(Central) v. Affluence Commodities (P.) Ltd. (2024) 471 ITR 252 /161 taxmann.com 476 (Guj) (HC)
S.14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income-No substantial question of law.[S. 260A]
Leave a Reply