https://www.taxtmi.com/caselaws?id=346420 The Tribunal set aside the orders of the Commissioner of Income Tax (CIT) and ruled in favor of the appellant. The incorrect set off of business loss against property income was deemed justifiable as the assessing officer had already considered the issue and decided not to disallow the loss. Additionally, the disallowance of expenditure under section 14A of the IT Act was found unwarranted as there were no expenses related to exempt income for the assessment year, leading to the conclusion that no revision under section 263 was necessary. en-us Fri, 23 Jun 2017 00:00:00 +0530 Fri, 11 Aug 2017 18:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346420 The Tribunal set aside the orders of the Commissioner of Income Tax (CIT) and ruled in favor of the appellant. The incorrect set off of business loss against property income was deemed justifiable as the assessing officer had already considered the issue and decided not to disallow the loss. Additionally, the disallowance of expenditure under section 14A of the IT Act was found unwarranted as there were no expenses related to exempt income for the assessment year, leading to the conclusion that no revision under section 263 was necessary. Case-Laws Income Tax Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346420