M/S.SHEETAL REAL vs. INCOME TAX OFFICER

In the result, the appeal fails and the substantial questions of law

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK

Section 14A of the Act. It was pointed out that the said conclusion is reached because nexus has not been established between expenditure disallowed and earning of exempt income. The revenue failed to substantiate their argument that the assessee was required to maintain separate accounts and that the revenue has failed ITA/83/2010 REPORTABLE Page 50 of 60 to refer