https://www.taxtmi.com/caselaws?id=219109 The Tribunal partially allowed the assessee's appeals and allowed the Revenue's appeal for statistical purposes. The judgment stressed the need to establish a direct nexus between expenses and exempt income for disallowance under sec. 14A of the Act. It also emphasized the importance of specific queries and justifications for ad hoc disallowances under relevant provisions of the Income-tax Act. The Tribunal directed the Assessing Officer to re-examine the issues considering the specific circumstances of the case and established legal principles. en-us Tue, 31 Jan 2012 00:00:00 +0530 Sat, 10 Nov 2012 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219109 The Tribunal partially allowed the assessee's appeals and allowed the Revenue's appeal for statistical purposes. The judgment stressed the need to establish a direct nexus between expenses and exempt income for disallowance under sec. 14A of the Act. It also emphasized the importance of specific queries and justifications for ad hoc disallowances under relevant provisions of the Income-tax Act. The Tribunal directed the Assessing Officer to re-examine the issues considering the specific circumstances of the case and established legal principles. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219109