https://www.taxtmi.com/caselaws?id=179456 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to restrict the disallowance under section 14A of the Act to a nominal amount of &8377; 50,000, emphasizing the necessity for the Assessing Officer to establish a direct nexus between expenditure and exempt income. Despite the absence of recorded objective satisfaction by the AO, the Tribunal affirmed the decision, citing the requirement for the AO to reasonably ascertain expenditure for tax-free income. The appeal by the Revenue was dismissed, and the decision was pronounced in open court. en-us Thu, 07 Nov 2013 00:00:00 +0530 Wed, 05 Oct 2016 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179456 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to restrict the disallowance under section 14A of the Act to a nominal amount of &8377; 50,000, emphasizing the necessity for the Assessing Officer to establish a direct nexus between expenditure and exempt income. Despite the absence of recorded objective satisfaction by the AO, the Tribunal affirmed the decision, citing the requirement for the AO to reasonably ascertain expenditure for tax-free income. The appeal by the Revenue was dismissed, and the decision was pronounced in open court. Case-Laws Income Tax Thu, 07 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179456