https://www.taxtmi.com/caselaws?id=350832 The Tribunal upheld the deletion of disallowance under Section 14A of the Income Tax Act, finding no error in the decision that no disallowance can be made when no exempt income is earned. It emphasized that disallowance cannot exceed the exempt income, in line with established judicial precedents. The Tribunal dismissed the Revenue's appeals and directed any disallowance to be limited to the extent of exempt income earned by the assessee. en-us Wed, 08 Nov 2017 00:00:00 +0530 Tue, 14 Nov 2017 04:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350832 The Tribunal upheld the deletion of disallowance under Section 14A of the Income Tax Act, finding no error in the decision that no disallowance can be made when no exempt income is earned. It emphasized that disallowance cannot exceed the exempt income, in line with established judicial precedents. The Tribunal dismissed the Revenue's appeals and directed any disallowance to be limited to the extent of exempt income earned by the assessee. Case-Laws Income Tax Wed, 08 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350832