https://www.taxtmi.com/caselaws?id=330408 The Tribunal ruled in favor of the assessee in both issues. It held that no disallowance under Section 14A was warranted as no exempt income was earned. Additionally, the addition under Section 41(1) was deemed unjustified without evidence of liability cessation or remission. The Tribunal allowed the appeals, emphasizing that the provisions of Section 41(1) did not apply. en-us Thu, 14 Jul 2016 00:00:00 +0530 Mon, 25 Jul 2016 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330408 The Tribunal ruled in favor of the assessee in both issues. It held that no disallowance under Section 14A was warranted as no exempt income was earned. Additionally, the addition under Section 41(1) was deemed unjustified without evidence of liability cessation or remission. The Tribunal allowed the appeals, emphasizing that the provisions of Section 41(1) did not apply. Case-Laws Income Tax Thu, 14 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330408