https://www.taxtmi.com/caselaws?id=265190 The ITAT upheld the partial allowance of the assessee's appeal and dismissed the revenue's appeal regarding the disallowance of expenditure under section 14A of the Income Tax Act. The ITAT considered the total expenditure incurred by the assessee and concluded that the disallowance under section 14A could not exceed the total expenditure. Referring to a previous decision, the ITAT estimated the expenditure towards earning exempt income at Rs. 4 lakhs out of the total expenses of Rs. 8,58,737, resulting in a final disallowance amount of Rs. 6,21,826 in favor of the assessee. en-us Thu, 28 Aug 2014 00:00:00 +0530 Thu, 08 Oct 2015 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265190 The ITAT upheld the partial allowance of the assessee's appeal and dismissed the revenue's appeal regarding the disallowance of expenditure under section 14A of the Income Tax Act. The ITAT considered the total expenditure incurred by the assessee and concluded that the disallowance under section 14A could not exceed the total expenditure. Referring to a previous decision, the ITAT estimated the expenditure towards earning exempt income at Rs. 4 lakhs out of the total expenses of Rs. 8,58,737, resulting in a final disallowance amount of Rs. 6,21,826 in favor of the assessee. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265190