https://www.taxtmi.com/caselaws?id=185546 The High Court upheld the decisions of the CIT(A) and the Tribunal, ruling in favor of the assessee and against the revenue. The Court emphasized the necessity of a nexus between expenditure and exempted income under Section 14A of the Income Tax Act. It clarified that disallowance cannot stand without incurring expenditure for earning exempted income. The judgment provided detailed analysis and referred to previous judgments to support the decision, ultimately restricting the disallowance of expenditure for earning dividend income to the specific amount of Rs. 7200 for the assessment year 2000-01. en-us Sun, 02 Feb 2014 00:00:00 +0530 Fri, 19 Aug 2016 10:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185546 The High Court upheld the decisions of the CIT(A) and the Tribunal, ruling in favor of the assessee and against the revenue. The Court emphasized the necessity of a nexus between expenditure and exempted income under Section 14A of the Income Tax Act. It clarified that disallowance cannot stand without incurring expenditure for earning exempted income. The judgment provided detailed analysis and referred to previous judgments to support the decision, ultimately restricting the disallowance of expenditure for earning dividend income to the specific amount of Rs. 7200 for the assessment year 2000-01. Case-Laws Income Tax Sun, 02 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185546