https://www.taxtmi.com/caselaws?id=272418 The Tribunal allowed the assessee's appeal regarding the disallowance of expenses under section 14A by applying rule 8D for the A.Y. 2010-11. The Tribunal emphasized that disallowance under section 14A cannot be made in the absence of exempt income, citing various High Court judgments and ITAT decisions. As the assessee did not earn any exempt income in the form of dividends during the relevant year, the disallowance under section 14A was deemed unjustified. Therefore, the Tribunal deleted the disallowance, aligning with the principle that such disallowance should be linked to the presence of exempt income. en-us Wed, 29 Jul 2015 00:00:00 +0530 Thu, 03 May 2018 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272418 The Tribunal allowed the assessee's appeal regarding the disallowance of expenses under section 14A by applying rule 8D for the A.Y. 2010-11. The Tribunal emphasized that disallowance under section 14A cannot be made in the absence of exempt income, citing various High Court judgments and ITAT decisions. As the assessee did not earn any exempt income in the form of dividends during the relevant year, the disallowance under section 14A was deemed unjustified. Therefore, the Tribunal deleted the disallowance, aligning with the principle that such disallowance should be linked to the presence of exempt income. Case-Laws Income Tax Wed, 29 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272418