https://www.taxtmi.com/caselaws?id=212960 The High Court dismissed the revenue's appeal against the ITAT's deletion of a Rs.10,46,067 disallowance under Section 14A of the Income-tax Act, 1961. The Court held that for disallowance under Section 14A, there must be a finding of actual expenditure incurred for earning exempted income. Citing precedent, the Court emphasized the need for a clear link between expenditure and exempted income. The appeal was rejected based on consistent legal interpretations in previous cases, reinforcing the principle that disallowance under Section 14A cannot be upheld without evidence of expenditure related to earning exempted income. en-us Mon, 02 Apr 2012 00:00:00 +0530 Tue, 01 May 2012 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212960 The High Court dismissed the revenue's appeal against the ITAT's deletion of a Rs.10,46,067 disallowance under Section 14A of the Income-tax Act, 1961. The Court held that for disallowance under Section 14A, there must be a finding of actual expenditure incurred for earning exempted income. Citing precedent, the Court emphasized the need for a clear link between expenditure and exempted income. The appeal was rejected based on consistent legal interpretations in previous cases, reinforcing the principle that disallowance under Section 14A cannot be upheld without evidence of expenditure related to earning exempted income. Case-Laws Income Tax Mon, 02 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212960