https://www.taxtmi.com/caselaws?id=189784 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the disallowance under section 14A. Emphasizing the need for actual receipt of exempt income, the Tribunal aligned with precedents from various High Courts, clarifying that only expenditure related to tax-exempt income should be disallowed. The decision was based on legal principles and interpretations by higher courts, concluding that no disallowance applied in this case due to the absence of exempt income earned from the investments. en-us Fri, 21 Oct 2016 00:00:00 +0530 Thu, 19 Jan 2017 20:46:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189784 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the disallowance under section 14A. Emphasizing the need for actual receipt of exempt income, the Tribunal aligned with precedents from various High Courts, clarifying that only expenditure related to tax-exempt income should be disallowed. The decision was based on legal principles and interpretations by higher courts, concluding that no disallowance applied in this case due to the absence of exempt income earned from the investments. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189784