364 results for “disallowance”+ Section 250(6)clear
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In the result, this appeal filed by Revenue in ITA
Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am
6. The learned CIT(A) has failed to note that the Board vide Circular No.5 of 2014, has clarified that the disallowance is applicable, even in cases where no exempt income was earned during the year, but there is a possibility of earning the exempt income and the circular is not overriding the express provisions of Section 14A read with