Where assessee had not earned any exempt income, no disallowance under section 14A was required to be made. Employee’s contributions (PF/ESI). Payment was made within the period of grace period of five days. No disallowance can be made. Matter remanded. (AY. 2013-14)
Strides Pharma Science Ltd. v. DCIT (2024) 205 ITD 421 (Mum) (Trib.)
S.14A : Disallowance of expenditure-Exempt income-Not earned any exempt income, no disallowance can be made-Employee’s contributions (PF/ESI)-Payment was made within the period of grace period of five days-No disallowance can be made-Matter remanded. [S. 36(1)(va), R.8D]
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