https://www.taxtmi.com/caselaws?id=190367 The Tribunal dismissed the Revenue's appeal as the tax effect was below the revised monetary limit set by a CBDT Circular. The Circular was held to apply retrospectively to pending and future appeals. Regarding the assessee's appeal, the Tribunal ruled in favor of the assessee, deleting the disallowance under Section 14A due to the Assessing Officer's failure to show dissatisfaction with the claim of no expenditure for exempt income. The assessee's appeal was partly allowed, and the Revenue's appeal was dismissed, emphasizing the correct application of Section 14A. en-us Mon, 27 Jun 2016 00:00:00 +0530 Mon, 13 Feb 2017 16:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190367 The Tribunal dismissed the Revenue's appeal as the tax effect was below the revised monetary limit set by a CBDT Circular. The Circular was held to apply retrospectively to pending and future appeals. Regarding the assessee's appeal, the Tribunal ruled in favor of the assessee, deleting the disallowance under Section 14A due to the Assessing Officer's failure to show dissatisfaction with the claim of no expenditure for exempt income. The assessee's appeal was partly allowed, and the Revenue's appeal was dismissed, emphasizing the correct application of Section 14A. Case-Laws Income Tax Mon, 27 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190367