S. 14A: Disallowance out-of cost – Exempt income – Onus on the funds to prove that disallowance is erroneous – In place of exploring the levels disallowance isn’t warranted [Roentgen.8D]

Court kept that onus to the cash to show one to disallowance is incorrect and without exploring the membership disallowance is not justified (AY.2007-08, 2008-09)

S. 14A : Disallowance regarding expense – Excused income – Enhancement off disallowance try stored becoming perhaps not appropriate [Roentgen.8D]

Dismissing the fresh beauty of the latest money the newest Judge kept the Assessing Manager had approved that the assessee had not borrowed finance. The brand new assessee got deducted particular proportionate cost, which the Examining Officer hadn’t disbelieved or debated. Quantity of resource, the fresh new assessee is actually thought to have obtained costs-free qualities away from finance companies or any other financial institutions which have just who they had spent. The brand new Tribunal got truthfully erased the newest disallowance away from Rs. Continue reading “S. 14A : Disallowance off costs – Excused income – Zero exempt income gotten – Provision isn’t applicable [R”