https://www.taxtmi.com/caselaws?id=345244 The Tribunal allowed the appeal of the assessee, ruling that in the absence of any exempt income during the year, no disallowance under Section 14A was warranted. The Tribunal set aside the CIT(A)'s order and deleted the disallowance of Rs. 1,55,333/- under Section 14A read with Rule 8D. The Tribunal emphasized that the CBDT Circular and prior judicial decisions supported the position that Section 14A does not apply when no exempt income is earned. en-us Tue, 11 Apr 2017 00:00:00 +0530 Wed, 12 Jul 2017 07:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345244 The Tribunal allowed the appeal of the assessee, ruling that in the absence of any exempt income during the year, no disallowance under Section 14A was warranted. The Tribunal set aside the CIT(A)'s order and deleted the disallowance of Rs. 1,55,333/- under Section 14A read with Rule 8D. The Tribunal emphasized that the CBDT Circular and prior judicial decisions supported the position that Section 14A does not apply when no exempt income is earned. Case-Laws Income Tax Tue, 11 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345244