Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (3) TMI 1729 - AT - Income TaxRectification u/s 254 - as contended that the CBDT in its Circular No.5/2014 has clarified that the disallowance of expenses u/s 14A of the Act would be attracted even if no exempt income is earned - HELD THAT:- Revenue has challenged the said order vide this Miscellaneous Application filed u/s 254(2) of the Act , raising several grounds before us, as reproduced above from the application filed by the Revenue before us, stating that the order was perverse and could not have been dismissed on account of low tax effect involved since it was covered under except ion specified by CBDT for dismissal on account of low tax effect , and had been passed ignoring the legislative intent expressed in CBDT Circular No.5/2014 dated 11-02-14 and principal laid down in various decisions that apportionment of expenses has been to be done regardless of exempt income earned. The same, we hold, is not tenable in law since it is only apparent mistakes which can be rectified by way of the present proceedings and for challenging orders passed by the ITAT there is legal recourse available which definitely does not include challenging it by way of the present Miscellaneous Application under section 254(2) of the Act. The Miscellaneous Application is liable to be dismissed for the aforesaid reason.
|