https://www.taxtmi.com/caselaws?id=270782 The Tribunal upheld the CIT (A)'s decision regarding disallowance under Section 14A, emphasizing the requirement of exempt income for such disallowance. The Tribunal found that since no exempt income was earned by the assessee, the provisions of Section 14A did not apply. Consequently, the Tribunal dismissed the Revenue's appeals in their entirety, including concerns regarding reopening of the assessment under Section 147 of the Income Tax Act. en-us Fri, 04 Dec 2015 00:00:00 +0530 Fri, 15 Jan 2016 11:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270782 The Tribunal upheld the CIT (A)'s decision regarding disallowance under Section 14A, emphasizing the requirement of exempt income for such disallowance. The Tribunal found that since no exempt income was earned by the assessee, the provisions of Section 14A did not apply. Consequently, the Tribunal dismissed the Revenue's appeals in their entirety, including concerns regarding reopening of the assessment under Section 147 of the Income Tax Act. Case-Laws Income Tax Fri, 04 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270782