https://www.taxtmi.com/caselaws?id=272554 The Tribunal allowed the assessee's appeal, directing the deletion of the disallowance made under section 14A of the Income Tax Act for the assessment year 2012-13. The Tribunal held that since no exempt income was earned during the relevant financial year, the disallowance could not be applied, in line with the decision of the Madras High Court. The appeal was allowed based on the similarity of facts to the Madras High Court decision, overturning the orders of the lower authorities. en-us Wed, 24 Jan 2018 00:00:00 +0530 Mon, 07 May 2018 19:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272554 The Tribunal allowed the assessee's appeal, directing the deletion of the disallowance made under section 14A of the Income Tax Act for the assessment year 2012-13. The Tribunal held that since no exempt income was earned during the relevant financial year, the disallowance could not be applied, in line with the decision of the Madras High Court. The appeal was allowed based on the similarity of facts to the Madras High Court decision, overturning the orders of the lower authorities. Case-Laws Income Tax Wed, 24 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272554