https://www.taxtmi.com/caselaws?id=184680 The ITAT upheld the CIT(A)'s decision, dismissing the revenue's appeal regarding the disallowance of consultancy fees under section 14A of the Income-tax Act, 1961. The tribunal emphasized that expenses directly related to income-generating activities should be excluded when calculating disallowances under section 14A. The judgment highlighted the importance of considering specific expenses in determining disallowances and affirmed that direct expenses for earning taxable income cannot be disallowed under section 14A. en-us Thu, 29 Oct 2015 00:00:00 +0530 Sat, 16 Jul 2016 12:00:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184680 The ITAT upheld the CIT(A)'s decision, dismissing the revenue's appeal regarding the disallowance of consultancy fees under section 14A of the Income-tax Act, 1961. The tribunal emphasized that expenses directly related to income-generating activities should be excluded when calculating disallowances under section 14A. The judgment highlighted the importance of considering specific expenses in determining disallowances and affirmed that direct expenses for earning taxable income cannot be disallowed under section 14A. Case-Laws Income Tax Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184680