https://www.taxtmi.com/caselaws?id=274599 The Tribunal dismissed the revenue's appeal regarding disallowance under section 14A of the Income Tax Act, emphasizing that disallowance cannot be made when no exempt income is earned. The decision aligned with legal precedents, highlighting the requirement for actual exempt income to trigger such provisions and rejecting speculative disallowance based on potential future earnings. The Tribunal emphasized the necessity of factual evidence of exempt income and upheld the principle that section 14A applies to actual income, not hypothetical future income. en-us Wed, 22 Nov 2017 00:00:00 +0530 Fri, 24 Aug 2018 09:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274599 The Tribunal dismissed the revenue's appeal regarding disallowance under section 14A of the Income Tax Act, emphasizing that disallowance cannot be made when no exempt income is earned. The decision aligned with legal precedents, highlighting the requirement for actual exempt income to trigger such provisions and rejecting speculative disallowance based on potential future earnings. The Tribunal emphasized the necessity of factual evidence of exempt income and upheld the principle that section 14A applies to actual income, not hypothetical future income. Case-Laws Income Tax Wed, 22 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274599