Is expenditure necessary to earn exempt income?

Last updated: 07 August 2021
Quick Summary
The Income Tax Appellate Tribunal has ruled on appeals concerning expenditure incurred to earn exempt income. The Assessing Officer had disallowed expenses under Section 14A, arguing that such expenditure must have been incurred. However, the Tribunal, following previous decisions, directed the Assessing Officer to delete these disallowances, allowing the assessee's appeals.

Court :
INCOME TAX APPELLATE TRIBUNAL, DELHI

Brief :
Both the above captioned appeals by the assessee are preferred against the order of the CIT(A) - Aligarh, dated 13.01.2016 pertaining to A.Ys 2011-12 and 2012-13.

Citation :
ITA No. 2770/DEL/2018 [A.Y 2011-12] & ITA No. 2771/DEL/2018 [A.Y 2012-13]

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