https://www.taxtmi.com/caselaws?id=365575 The Tribunal dismissed the Revenue's appeals for AY 2013-14 and AY 2014-15, upholding the CIT(A)'s decisions. Regarding the disallowance of expenditure under Section 14A, the Tribunal restricted the disallowance to the extent of the exempt income earned by the assessee. On the issue of depreciation rate on moulds, the Tribunal affirmed the allowance of depreciation at 30%, consistent with its previous decisions. The Tribunal emphasized the need for proper satisfaction under Section 14A and upheld the principles that disallowance cannot exceed the exempt income earned. en-us Fri, 10 Aug 2018 00:00:00 +0530 Mon, 20 Aug 2018 08:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365575 The Tribunal dismissed the Revenue's appeals for AY 2013-14 and AY 2014-15, upholding the CIT(A)'s decisions. Regarding the disallowance of expenditure under Section 14A, the Tribunal restricted the disallowance to the extent of the exempt income earned by the assessee. On the issue of depreciation rate on moulds, the Tribunal affirmed the allowance of depreciation at 30%, consistent with its previous decisions. The Tribunal emphasized the need for proper satisfaction under Section 14A and upheld the principles that disallowance cannot exceed the exempt income earned. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365575