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2012 (12) TMI 1047 - AT - Income TaxDisallowance of expenditure u/s 14A - interest expense and management expense - whether expense to be disallowed in relation to exempt income - Held that:- administrative and other expenses are fixed irrespective of the fact whether or not tax free income is earned and therefore, these expenses cannot said to be relatable to exempt income - also there is nothing on record brought out by the AO that the assessee has actually incurred any expenditure in relation to the exempt income - the addition of ₹ 7.05 crores being the proportionate disallowance of interest expenses is deleted - decided in favor of assessee
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