45 results for “disallowance”+ Section 14A(2)clear
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In the result, the Ground no-1 of the Revenue for ITA No
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
14A. As the A.O has observed that the assessee has utilized business funds for share application money and there was no close proximity to the business of the assessee company and investment in Tramboo Industries Pvt. Ltd. and the assessee has utilized business funds for earning dividend which is an exempt income and only proportionate disallowance of expenses was made