S. 14A: Disallowance out of expenses – Exempt money – Onus into cash to prove one to disallowance are incorrect – Rather than exploring the accounts disallowance isn’t warranted [Roentgen.8D]
Legal held the onus towards the revenue to show that disallowance try erroneous and without exploring the levels disallowance isn’t warranted (AY.2007-08, 2008-09)
S. 14A : Disallowance out of costs – Exempt income – Improvement out of disallowance are kept to be maybe not valid [Roentgen.8D]
Dismissing the appeal of the brand new money the Judge held the Evaluating podpora xcheaters Officer had accepted the assessee had not lent fund. New assessee got subtracted particular proportionate expenditure, that the Determining Officer had not disbelieved otherwise disputed. Number of financing, the fresh new assessee try said to have obtained fees-free attributes from finance companies and other creditors that have which it had invested. Continue reading “S. 14A : Disallowance regarding expenses – Excused earnings – Zero exempt money gotten – Supply isn’t applicable [Roentgen”