https://www.taxtmi.com/caselaws?id=352542 The High Court held that a policy circular dated 10th December 2015 could not be applied retrospectively to an appeal filed before its issuance. The appeal challenged the Income Tax Appellate Tribunal's decision on disallowance under Section 14A of the Income Tax Act, 1961. The court agreed with the Tribunal's deletion of the disallowance, following the Delhi High Court's precedent, stating that expenses related to income not forming part of the total income should not be deducted under Section 14A. The High Court dismissed the appeal, upholding the Tribunal's decision. en-us Tue, 21 Nov 2017 00:00:00 +0530 Sat, 16 Dec 2017 10:33:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352542 The High Court held that a policy circular dated 10th December 2015 could not be applied retrospectively to an appeal filed before its issuance. The appeal challenged the Income Tax Appellate Tribunal's decision on disallowance under Section 14A of the Income Tax Act, 1961. The court agreed with the Tribunal's deletion of the disallowance, following the Delhi High Court's precedent, stating that expenses related to income not forming part of the total income should not be deducted under Section 14A. The High Court dismissed the appeal, upholding the Tribunal's decision. Case-Laws Income Tax Tue, 21 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352542