ACIT, AKOLA CIRCLE, AKOLA vs. SHRI DNYANDEO NINU PATIL, AKOLA

ITA 529/NAG/2014Status: DisposedITAT Nagpur29 March 2019AY 2010-116 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that Section 14A of the Income Tax Act is inapplicable when the assessee has not earned any exempt income. Therefore, the grounds raised by the Revenue were dismissed.

What were the facts?

The Assessing Officer made an addition on account of interest on a loan. The CIT(A) partly allowed the assessee's appeal. Both the Revenue and the assessee filed cross-appeals before the Tribunal.

What were the issues?

Whether disallowance under Section 14A is permissible when no exempt income has been earned by the assessee.

Which sections of the Income-tax Act were involved?

Section 14A,Section 36(1)(iii)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH, NAGPUR

Before: SHRI D. KARUNAKARA RAO, AM & SHRI VIKAS AWASTHY, JM

Hearing: 28.03.2019Pronounced: 29.03.2019

Heard together (2 matters)

ITA No.529/NAG/2014
ITA No.20/NAG/2015

Read from the judgment's own cause title. This page is filed under one of them.

PER D. KARUNAKARA RAO, AM: These are cross appeals filed by the Revenue as well as by the assessee against the order of the CIT(A)-I, Nagpur dated 19.08.2014 for the assessment year 2010-11. 2. The

The order continues below.

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