https://www.taxtmi.com/caselaws?id=347621 The Tribunal allowed the Assessee's appeal, deleting both the disallowance under section 14A and the addition related to the loss on the sale of mutual funds. The Tribunal ruled that disallowance under section 14A must be made even in the absence of exempt income but as the Assessee had no exempt income during the relevant year, the disallowance was deleted. Additionally, the loss on the sale of Mutual Funds was considered a business loss based on the Assessee's primary income source and past treatment of similar claims, leading to the deletion of the added amount. en-us Wed, 06 Sep 2017 00:00:00 +0530 Thu, 07 Sep 2017 14:03:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347621 The Tribunal allowed the Assessee's appeal, deleting both the disallowance under section 14A and the addition related to the loss on the sale of mutual funds. The Tribunal ruled that disallowance under section 14A must be made even in the absence of exempt income but as the Assessee had no exempt income during the relevant year, the disallowance was deleted. Additionally, the loss on the sale of Mutual Funds was considered a business loss based on the Assessee's primary income source and past treatment of similar claims, leading to the deletion of the added amount. Case-Laws Income Tax Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347621