https://www.taxtmi.com/caselaws?id=255765 The Tribunal upheld the deletion of a disallowance of Rs. 17,27,733 under Section 14A as the assessee did not incur any expenditure to earn exempt income. The Tribunal also rejected sustaining an ad-hoc disallowance of Rs. 50,000, emphasizing that certain expenses were necessary for statutory compliance and not linked to earning exempt income. The decision favored the assessee, citing relevant case law and judicial precedents. The order was issued on 19-1-2015, dismissing the Revenue's appeal and allowing the assessee's cross-objection. en-us Mon, 19 Jan 2015 00:00:00 +0530 Mon, 27 Aug 2018 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255765 The Tribunal upheld the deletion of a disallowance of Rs. 17,27,733 under Section 14A as the assessee did not incur any expenditure to earn exempt income. The Tribunal also rejected sustaining an ad-hoc disallowance of Rs. 50,000, emphasizing that certain expenses were necessary for statutory compliance and not linked to earning exempt income. The decision favored the assessee, citing relevant case law and judicial precedents. The order was issued on 19-1-2015, dismissing the Revenue's appeal and allowing the assessee's cross-objection. Case-Laws Income Tax Mon, 19 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255765