https://www.taxtmi.com/caselaws?id=274409 The Tribunal allowed the appeal, ruling in favor of the assessee, directing the Assessing Officer to delete the disallowance under section 14A of the Income Tax Act. This decision was based on the absence of any exempt income receipt during the relevant year, following the clarification from the jurisdictional High Court of Bombay that section 14A does not apply in such circumstances. The judgment highlighted the significance of maintaining judicial consistency and adhering to the interpretations of tax laws by the relevant High Courts. en-us Thu, 25 May 2017 00:00:00 +0530 Sun, 12 Aug 2018 13:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274409 The Tribunal allowed the appeal, ruling in favor of the assessee, directing the Assessing Officer to delete the disallowance under section 14A of the Income Tax Act. This decision was based on the absence of any exempt income receipt during the relevant year, following the clarification from the jurisdictional High Court of Bombay that section 14A does not apply in such circumstances. The judgment highlighted the significance of maintaining judicial consistency and adhering to the interpretations of tax laws by the relevant High Courts. Case-Laws Income Tax Thu, 25 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274409