https://www.taxtmi.com/caselaws?id=330530 The Tribunal allowed both appeals against the orders of Ld. CIT(A) for the assessment year 2010-11, focusing on the disallowance under section 14A of the Income Tax Act. The Tribunal held that the disallowance, based on estimation without a proximate relationship between expenditure and exempt income, was not justified. As the assessee had not claimed any expenditure against the investment income, the Tribunal directed the deletion of the disallowance amount. The judgment reiterated legal principles established by the Supreme Court and High Courts on the interpretation and application of section 14A. en-us Tue, 14 Jun 2016 00:00:00 +0530 Thu, 28 Jul 2016 17:23:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330530 The Tribunal allowed both appeals against the orders of Ld. CIT(A) for the assessment year 2010-11, focusing on the disallowance under section 14A of the Income Tax Act. The Tribunal held that the disallowance, based on estimation without a proximate relationship between expenditure and exempt income, was not justified. As the assessee had not claimed any expenditure against the investment income, the Tribunal directed the deletion of the disallowance amount. The judgment reiterated legal principles established by the Supreme Court and High Courts on the interpretation and application of section 14A. Case-Laws Income Tax Tue, 14 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330530