https://www.taxtmi.com/caselaws?id=271288 The tribunal partially allowed an appeal regarding disallowance of expenses under section 14A of the Income Tax Act. It ruled that since no borrowed funds were used for investments and a suo-moto disallowance was made, the disallowable amount was restricted. In another case, the tribunal dismissed an appeal, emphasizing the lack of nexus between expenditure and income for disallowance under section 14A. It held that without evidence of incurring expenditure for earning exempted income, disallowance cannot be justified. The tribunal highlighted the need to establish a clear connection between expenditure and income for disallowance under section 14A. en-us Mon, 04 Jan 2016 00:00:00 +0530 Sun, 31 Jan 2016 23:14:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271288 The tribunal partially allowed an appeal regarding disallowance of expenses under section 14A of the Income Tax Act. It ruled that since no borrowed funds were used for investments and a suo-moto disallowance was made, the disallowable amount was restricted. In another case, the tribunal dismissed an appeal, emphasizing the lack of nexus between expenditure and income for disallowance under section 14A. It held that without evidence of incurring expenditure for earning exempted income, disallowance cannot be justified. The tribunal highlighted the need to establish a clear connection between expenditure and income for disallowance under section 14A. Case-Laws Income Tax Mon, 04 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271288