https://www.taxtmi.com/caselaws?id=346787 The Tribunal partially allowed the appeals against orders of CIT(A) for assessment years 2009-10 & 2010-11 concerning the disallowance of expenditure under section 14A. It was held that there must be a direct nexus between claimed expenses and exempt income for disallowances to be justified. The Tribunal directed the deletion of disallowances under section 14A, except for charges directly related to exempt income, leading to the partial allowance of both appeals. en-us Fri, 28 Jul 2017 00:00:00 +0530 Wed, 23 Aug 2017 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346787 The Tribunal partially allowed the appeals against orders of CIT(A) for assessment years 2009-10 & 2010-11 concerning the disallowance of expenditure under section 14A. It was held that there must be a direct nexus between claimed expenses and exempt income for disallowances to be justified. The Tribunal directed the deletion of disallowances under section 14A, except for charges directly related to exempt income, leading to the partial allowance of both appeals. Case-Laws Income Tax Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346787