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2023 (7) TMI 398 - AT - Income TaxMaintainability of appeal on low tax effect - Disallowance u/s 14A r.w.r. 8D - AO referred to the CBDT Circular No. 05/2014 and stated that disallowance u/s 14A becomes mandatory once any investment relating to earning of exempt income is made by the assessee and it is not material whether the exempt income is earned or not during the year - HELD THAT:- We are of the considered view that the present case doesn’t fall under exception 10(b) of the CBDT Circular and the appeal so filed by the Revenue is hereby dismissed at the threshold on account of low tax effect. The contentions on merits of the case need not be gone into and are not dealt with and thus left open.
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