https://www.taxtmi.com/caselaws?id=326926 The Tribunal allowed the Assessee's appeal and dismissed Revenue's appeal in a case concerning disallowance under section 14A of the Income Tax Act for the assessment year 2009-10. The Tribunal ruled that section 14A does not apply if no exempt income is received, leading to the conclusion that the Assessee should not face disallowance as they did not earn any exempt income during the relevant period. This decision provides clarity on the application of section 14A in situations where no exempt income is generated, resulting in relief for the Assessee. en-us Mon, 04 Apr 2016 00:00:00 +0530 Thu, 28 Apr 2016 10:06:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326926 The Tribunal allowed the Assessee's appeal and dismissed Revenue's appeal in a case concerning disallowance under section 14A of the Income Tax Act for the assessment year 2009-10. The Tribunal ruled that section 14A does not apply if no exempt income is received, leading to the conclusion that the Assessee should not face disallowance as they did not earn any exempt income during the relevant period. This decision provides clarity on the application of section 14A in situations where no exempt income is generated, resulting in relief for the Assessee. Case-Laws Income Tax Mon, 04 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326926