https://www.taxtmi.com/caselaws?id=64844 The Tribunal held that Section 14A applies to appellate proceedings and pending appeals for earlier years, allowing disallowance of expenses related to exempt income. It confirmed that the CIT's power under Section 263 and CIT(A)'s authority during appellate proceedings are unaffected by the proviso to Section 14A. The Tribunal emphasized the retrospective application of Section 14A, allowing appellate authorities to act even if the AO did not initially apply it. The appeal was allowed for statistical purposes, with the issue of interest disallowance remanded to the AO for further examination. en-us Fri, 15 Feb 2008 00:00:00 +0530 Tue, 13 Feb 2024 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64844 The Tribunal held that Section 14A applies to appellate proceedings and pending appeals for earlier years, allowing disallowance of expenses related to exempt income. It confirmed that the CIT's power under Section 263 and CIT(A)'s authority during appellate proceedings are unaffected by the proviso to Section 14A. The Tribunal emphasized the retrospective application of Section 14A, allowing appellate authorities to act even if the AO did not initially apply it. The appeal was allowed for statistical purposes, with the issue of interest disallowance remanded to the AO for further examination. Case-Laws Income Tax Fri, 15 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64844