https://www.taxtmi.com/caselaws?id=327595 The Tribunal dismissed the Assessing Officer's appeal and allowed the assessee's appeal in a case concerning disallowance under section 14A of the Income Tax Rules. The Tribunal ruled in favor of the assessee, emphasizing that no disallowance could be made as the assessee did not earn any exempt income during the relevant year. The decision underscored the necessity of establishing a direct connection between investments and income to justify disallowances under tax regulations, citing relevant case law to support its conclusion. en-us Wed, 11 May 2016 00:00:00 +0530 Sat, 14 May 2016 00:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327595 The Tribunal dismissed the Assessing Officer's appeal and allowed the assessee's appeal in a case concerning disallowance under section 14A of the Income Tax Rules. The Tribunal ruled in favor of the assessee, emphasizing that no disallowance could be made as the assessee did not earn any exempt income during the relevant year. The decision underscored the necessity of establishing a direct connection between investments and income to justify disallowances under tax regulations, citing relevant case law to support its conclusion. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327595