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2017 (9) TMI 471 - AT - Income TaxAO disallaowed expenses u/14A incurred for earning exempt income- CIT(A) upheld decision of AO - Aggreived assessee filed appeal against order of CIT(A) - Held that:- Tribunal is of the opinion that disallowance made by the Ld. AO u/s 14A , without recording satisfaction that the claim of the assessee is incorrect about not incurring any expenditure for earning exempt income,no disallowance can be made.Following the decision of the Hon’ble Delhi High Court wherein it is held that the satisfaction of the assessing officer in terms of section 14A(2) of the act is mandatory. - Decided in favor of assessee.
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