29 December 2015
Can an Assesing officer justify in disallowing the expenditure incurred against an exempt income when the Assesee has offered the exempted income to tax?
29 December 2015
It depends upon case to case basis. In such type of cases the assessee has to prove the actual expenditure incurred to the satisfaction of AO. . For more details you may refer Section 14A and Rule 8D.
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