https://www.taxtmi.com/caselaws?id=247841 The Tribunal upheld the decision to restrict the disallowance of expenditure to Rs.1 lakh, emphasizing the lack of concrete evidence linking the expenditure to earning exempt income. The Tribunal rejected the Revenue's appeal, stating that no disallowance under S.14A was warranted without specific proof of expenditure directly or indirectly related to exempt income, in line with a previous ruling where no specialized staff or specific expenditure for earning exempt income was demonstrated. en-us Wed, 07 May 2014 00:00:00 +0530 Sun, 25 May 2014 08:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247841 The Tribunal upheld the decision to restrict the disallowance of expenditure to Rs.1 lakh, emphasizing the lack of concrete evidence linking the expenditure to earning exempt income. The Tribunal rejected the Revenue's appeal, stating that no disallowance under S.14A was warranted without specific proof of expenditure directly or indirectly related to exempt income, in line with a previous ruling where no specialized staff or specific expenditure for earning exempt income was demonstrated. Case-Laws Income Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247841