Court :
Brief :
Citation :
Section 14A of the Income-Tax Act, 1961 stipulates that for computing the income of an assessee, no deduction shall be allowed in respect of expenditure incurred by him in relation to income which does not form part of his total income under the Act. Sub-section (2) of Section 14A, inserted in the statute book with effect from April 1, 2007, further stipulates that the assessing officer (AO) shall determine the amount of expenditure incurred by the assessee in relation to such income in accordance with the prescribed method, if having regard to the assessee’s accounts, he is not satisfied with the correctness of his claim.
Judgement posted by
CA. Amit Daga
Finance Controller, CA. CS. CFA. CIFRS. M.COM.
Hi Guys The great pleasure in life is doing what people say you cannot do I am Amit Daga 31 yrs old basically from Kolkata but Working at Hong Kong as Business Controller. I am1stattempt Professionally Qualified Chartered Accountant (CA.), Company Secretary (CS.), Chartered Financial Analyst (CFA.), Master in Bus ... Read more
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
