Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (8) TMI 871 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - Held that:- In the case of ACIT Vs. M.Baskaran(2015 (3) TMI 192 - ITAT CHENNAI) the co-ordinate Bench following various decisions of High Courts deleted the disallowance made under section 14A for the reason that assessee has not earned any exempt income. When there is no claim for exemption of income in such situation section 14A has no application. Admittedly, in this case assessee has not received any exempt income during the assessment year 2010-11, therefore this decision is squarely applicable to the facts of the present case. The co-ordinate Bench while holding that provisions of section 14A have no application, when no exempt income is received in the previous year - Decided in favour of assessee.
|