https://www.taxtmi.com/caselaws?id=340029 The Tribunal upheld the CIT(A)'s decision to delete disallowance under section 14A for assessment years 2008-09, 2010-11, and 2011-12. The CIT(A) ruled in favor of the assessee, emphasizing the lack of exempt income in those years and citing legal principles supporting the deletion of disallowance when no exempt income is earned. The Tribunal dismissed the Revenue's appeals, affirming the importance of establishing a direct nexus between expenditure and exempt income for such disallowances. en-us Fri, 03 Mar 2017 00:00:00 +0530 Tue, 14 Mar 2017 09:51:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340029 The Tribunal upheld the CIT(A)'s decision to delete disallowance under section 14A for assessment years 2008-09, 2010-11, and 2011-12. The CIT(A) ruled in favor of the assessee, emphasizing the lack of exempt income in those years and citing legal principles supporting the deletion of disallowance when no exempt income is earned. The Tribunal dismissed the Revenue's appeals, affirming the importance of establishing a direct nexus between expenditure and exempt income for such disallowances. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340029