https://www.taxtmi.com/caselaws?id=347820 The ITAT held that in the absence of exempt income, Section 14A of the Income Tax Act cannot be applied. The appeal challenging the addition made under Section 14A was allowed, emphasizing the requirement of actual exempt income for invoking the provision. The Court clarified that disallowance under Section 14A should not be made without exempt income in the relevant assessment year, ensuring a fair application of tax laws. en-us Thu, 07 Sep 2017 00:00:00 +0530 Tue, 12 Sep 2017 08:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347820 The ITAT held that in the absence of exempt income, Section 14A of the Income Tax Act cannot be applied. The appeal challenging the addition made under Section 14A was allowed, emphasizing the requirement of actual exempt income for invoking the provision. The Court clarified that disallowance under Section 14A should not be made without exempt income in the relevant assessment year, ensuring a fair application of tax laws. Case-Laws Income Tax Thu, 07 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347820