THE PR. COMMISSIONER OF INCOME TAX-2, CHD vs. M/S AGRI KING TRACTORS AND EQUIPMENTS PVT. LTD.
The appeal stands dismissed
ITA/356/2019HC Punjab & Haryana29 Jan 2020
Bench: It Should Be Reinstated & Decided On Merits ?” Ii. Whether On The Facts & In The Circumstances Of The Case, The Ld. Itat Is Justified In Directing The Assessing Officer To Verify The Claim Of The Assessee Having Not Earned Any Exempt Income In The Year Under Consideration & Allow The Relief Accordingly, Ignoring The Legislative Intent Anuradha 2020.01.30 16:03 I Attest To The Accuracy & Integrity Of This Document
Section 14ASection 260
2
expressed in CBDT's Circular No. 5/2014 dated 11.02.2014,
which explicitly states that expenses relatable to earning of
exempt income have to be considered for disallowance
irrespective of the fact whether any such income has been
earned during F.Y. or not as confirmed by Apex Court in
Maxopp Investment Ltd. vs. CIT, 91 Taxman.com 154 (SC) ?
iii.
Whether
