https://www.taxtmi.com/caselaws?id=333820 The tribunal allowed the appeal, ruling that disallowance under section 14A of the Income Tax Act was unjustified as no exempt income was earned by the assessee. The tribunal emphasized that section 14A cannot be invoked in the absence of exempt income, following the decision of the Hon'ble Delhi High Court. It was held that the claimed expenditure was genuine and necessary for business activities, dismissing the disallowance and upholding the appellant's position. en-us Fri, 02 Sep 2016 00:00:00 +0530 Tue, 25 Oct 2016 16:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333820 The tribunal allowed the appeal, ruling that disallowance under section 14A of the Income Tax Act was unjustified as no exempt income was earned by the assessee. The tribunal emphasized that section 14A cannot be invoked in the absence of exempt income, following the decision of the Hon'ble Delhi High Court. It was held that the claimed expenditure was genuine and necessary for business activities, dismissing the disallowance and upholding the appellant's position. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333820