https://www.taxtmi.com/caselaws?id=366863 The Appellate Tribunal ITAT Bangalore dismissed the Revenue's appeals against the CIT(A)'s order, which deleted the disallowance made under Section 14A r.w. Rule 8D. The Tribunal held that Section 14A cannot be invoked when no exempted income is earned by the assessee, aligning with legal precedent. The decision was based on the interpretation that actual receipt of income not included in the total income is necessary for disallowing related expenditure under Section 14A. The Tribunal found no error in the CIT(A)'s decision and upheld the deletion of the addition. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:43:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366863 The Appellate Tribunal ITAT Bangalore dismissed the Revenue's appeals against the CIT(A)'s order, which deleted the disallowance made under Section 14A r.w. Rule 8D. The Tribunal held that Section 14A cannot be invoked when no exempted income is earned by the assessee, aligning with legal precedent. The decision was based on the interpretation that actual receipt of income not included in the total income is necessary for disallowing related expenditure under Section 14A. The Tribunal found no error in the CIT(A)'s decision and upheld the deletion of the addition. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366863