https://www.taxtmi.com/caselaws?id=342125 The Tribunal upheld the order of the lower authority, confirming that no disallowance should be made under Section 14A of the Income-tax Act, 1961 if no income was received. The delay in filing appeals by the Revenue was condoned, and the appeals were admitted. The Tribunal affirmed that disallowance under Rule 8D(2) should not occur in the absence of exempt income, aligning with the matching concept. The constitutional validity of Section 14A and Rule 8D was upheld, emphasizing that no expenditure disallowance should happen without exempt income, leading to the dismissal of appeals and cross-objections. en-us Thu, 20 Apr 2017 00:00:00 +0530 Thu, 27 Apr 2017 06:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342125 The Tribunal upheld the order of the lower authority, confirming that no disallowance should be made under Section 14A of the Income-tax Act, 1961 if no income was received. The delay in filing appeals by the Revenue was condoned, and the appeals were admitted. The Tribunal affirmed that disallowance under Rule 8D(2) should not occur in the absence of exempt income, aligning with the matching concept. The constitutional validity of Section 14A and Rule 8D was upheld, emphasizing that no expenditure disallowance should happen without exempt income, leading to the dismissal of appeals and cross-objections. Case-Laws Income Tax Thu, 20 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342125