https://www.taxtmi.com/caselaws?id=359093 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross-objection, directing the AO to exclude the voluntary disallowance made under Section 14A. The judgment emphasized the importance of substantial justice, the inapplicability of Section 14A in the absence of exempt income, and the principle that assessed income can indeed fall below the returned income if warranted by law. en-us Fri, 20 Apr 2018 00:00:00 +0530 Tue, 24 Apr 2018 09:10:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359093 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross-objection, directing the AO to exclude the voluntary disallowance made under Section 14A. The judgment emphasized the importance of substantial justice, the inapplicability of Section 14A in the absence of exempt income, and the principle that assessed income can indeed fall below the returned income if warranted by law. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359093