Sec. 14A disallowance valid as assessee couldn’t substantiate fact that non exp. was incurred to earn exempt income

INCOME TAX : Where assessee-company claimed that no expenditure was incurred to earn exempt income and section 14A disallowance was not called for, but it could not substantiate that fact before lower authorities and it was found that there was substantial increase in investment and value of assets of assessee, Assessing Officer was justified in making disallowance under section 14A read with rule 8D

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000196097/sec-14a-disallowance-valid-as-assessee-couldn’t-substantiate-fact-that-non-exp-was-incurred-to-earn-exempt-income.aspx