https://www.taxtmi.com/caselaws?id=208145 The Tribunal upheld the Commissioner's decision to delete the disallowance under section 14A of the Income-tax Act and allow the insurance premium amount not directly related to business. The Tribunal emphasized the distinction between exempt income and deduction from income in determining the applicability of section 14A, based on previous judgments and the direct nexus between the premium paid and the sales of the assessee society. The Revenue's appeal was dismissed. en-us Thu, 08 Apr 2010 00:00:00 +0530 Wed, 12 Jun 2013 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208145 The Tribunal upheld the Commissioner's decision to delete the disallowance under section 14A of the Income-tax Act and allow the insurance premium amount not directly related to business. The Tribunal emphasized the distinction between exempt income and deduction from income in determining the applicability of section 14A, based on previous judgments and the direct nexus between the premium paid and the sales of the assessee society. The Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 08 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208145