PRINCIPAL COMMISSIONER OF INCOME TAX - 7 vs. M/S UNIVERSAL POWER TRANSFORMERS PVT LTD
The appeal stands dismissed accordingly
ITA/107/2020HC Karnataka04 Jun 2021
Bench: SATISH CHANDRA SHARMA,RAVI V HOSMANI
Section 14ASection 260ASection 50CSection 73
disallowance of
the expenditure even where taxpayer in a
particular year has not earned any exempt
income?
2. Whether on the facts and circumstances of the
case and in law, the Tribunal was right in law in
dismissing the appeal of the Revenue, ignoring the
fact that the interest bearing funds were utilised
3
for generating exempt income
