Addition u/s 14A r/w rule 8D - There being no income for shares ...
Income Tax
July 7, 2023
Addition u/s 14A r/w rule 8D - There being no income for shares hence obviously there are no administrative and other expenses incurred. In such facts of the case, no disallowance u/s 14A r.w. rule 8D is warranted as no borrowings were used in acquisition of these shares nor any administrative expenses etc. were incurred. The assessee also not earned exempt income and hence section 14A is inapplicable. - AT
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