https://www.taxtmi.com/caselaws?id=204565 The Court dismissed the revenue's appeal, affirming that the Commissioner's order under Section 263 was not valid due to the restrictions imposed by Section 14A regarding the disallowance of wrongly claimed expenditures related to exempt income. The judgment emphasized the limitations on revising assessments and disallowing deductions for expenditures incurred in relation to exempt income, highlighting the interplay between Section 263 and Section 14A of the Income-tax Act. en-us Thu, 14 Jan 2010 00:00:00 +0530 Sat, 16 Jul 2011 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204565 The Court dismissed the revenue's appeal, affirming that the Commissioner's order under Section 263 was not valid due to the restrictions imposed by Section 14A regarding the disallowance of wrongly claimed expenditures related to exempt income. The judgment emphasized the limitations on revising assessments and disallowing deductions for expenditures incurred in relation to exempt income, highlighting the interplay between Section 263 and Section 14A of the Income-tax Act. Case-Laws Income Tax Thu, 14 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204565