Section 14A Disallowance Cannot Exceed Exempt Income and Revenue Expenditure Is Fully Deductible In Incurred Year
Section 14A Disallowance Cannot Exceed Exempt Income and Revenue Expenditure Is Fully Deductible In Incurred Year Issue Whether disallowance of expenditure under Section 14A of the Income-tax Act, 1961 can exceed the actual exempt income earned by the assessee during the relevant assessment year. Whether the Revenue can compel an assessee to spread over revenue… Read More »