Delhi HC grants exemption with exceptions on Section 14A disallowance computation

The Delhi HC allowed exemption with exceptions in ITA 297/2012, citing Maxopp Investment Ltd. on Section 14A disallowance computation. Notice issued to respondent on interest under Section 244A of the Income Tax Act, 1961.

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The Delhi High Court allowed exemption subject to exceptions in the case of ITA 297/2012. The court referred to a previous decision in Maxopp Investment Ltd. regarding the computation of disallowance under Section 14A of the Income Tax Act, 1961. Notice was issued to the respondent for the second issue concerning interest under Section 244A of the Act.

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