https://www.taxtmi.com/caselaws?id=275997 Section 14A disallowance requires actual exempt income; where the amount characterised as dividend was only a proposed dividend and was not in fact received as exempt income, the statutory precondition for disallowance was absent. The appellate authorities recorded concurrent factual findings to that effect, and no substantial question of law arose from those findings. On those facts, the disallowance was not sustainable, and the Revenue's challenge failed. en-us Mon, 08 Jan 2018 00:00:00 +0530 Thu, 25 Oct 2018 08:09:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275997 Section 14A disallowance requires actual exempt income; where the amount characterised as dividend was only a proposed dividend and was not in fact received as exempt income, the statutory precondition for disallowance was absent. The appellate authorities recorded concurrent factual findings to that effect, and no substantial question of law arose from those findings. On those facts, the disallowance was not sustainable, and the Revenue's challenge failed. Case-Laws Income Tax Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275997