https://www.taxtmi.com/caselaws?id=365199 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the disallowance under Section 14A. It was held that no disallowance is warranted under Section 14A when no exempt income is earned during the relevant assessment year, in line with judicial precedents and the principle of consistency. The Tribunal emphasized that judicial interpretations prevail over administrative circulars in the application of tax laws. en-us Thu, 09 Aug 2018 00:00:00 +0530 Sun, 12 Aug 2018 14:37:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365199 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the disallowance under Section 14A. It was held that no disallowance is warranted under Section 14A when no exempt income is earned during the relevant assessment year, in line with judicial precedents and the principle of consistency. The Tribunal emphasized that judicial interpretations prevail over administrative circulars in the application of tax laws. Case-Laws Income Tax Thu, 09 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365199