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Apportionment of expenses between the taxable and exempted income - disallowance u/s 14A - The act of engagement of Company Secretary was clearly for the purpose of carrying on activities of the company, in absence of which, the company would be breaching the legal requirement. That being the position, the expenditure had to be apportioned between the taxable income and the exempt income. - HC

Income Tax - Apportionment of expenses between the taxable and exempted income - disallowance u/s 14A - The act of engagement of Company Secretary was clearly for the purpose of carrying on activities of the company, in absence of which, the company would be breaching the legal requirement. That being the position, the expenditure had to be apportioned between the taxable income and the exempt income. - HC - TMI Updates - Highlights .....

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