https://www.taxtmi.com/caselaws?id=177585 The appeals for all three assessment years were allowed as the Tribunal found that there was no specific evidence of expenditure incurred by the assessee for earning tax-free income, which is a prerequisite for disallowance under Section 14A of the Income Tax Act. The Tribunal emphasized the importance of actual expenditure and consistency in treatment across assessment years, leading to the reversal of the FAA's order and ruling in favor of the appellant. en-us Fri, 20 Mar 2015 00:00:00 +0530 Wed, 13 Jan 2016 10:08:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177585 The appeals for all three assessment years were allowed as the Tribunal found that there was no specific evidence of expenditure incurred by the assessee for earning tax-free income, which is a prerequisite for disallowance under Section 14A of the Income Tax Act. The Tribunal emphasized the importance of actual expenditure and consistency in treatment across assessment years, leading to the reversal of the FAA's order and ruling in favor of the appellant. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177585