https://www.taxtmi.com/caselaws?id=370259 The court upheld the deletion of disallowance under Section 14A of the Income Tax Act as the respondent-assessee did not earn any dividend or exempt income. Regarding the depreciation claimed at 15% per annum, the court found the classification of items as 'electrical fittings' ambiguous but deemed the amount insignificant for further consideration. The disallowance of depreciation on the canteen building was rejected based on evidence showing the canteen was operational before the end of the Assessment Year. The court dismissed the Revenue's appeal without costs, addressing all issues comprehensively. en-us Mon, 22 Oct 2018 00:00:00 +0530 Wed, 14 Nov 2018 07:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370259 The court upheld the deletion of disallowance under Section 14A of the Income Tax Act as the respondent-assessee did not earn any dividend or exempt income. Regarding the depreciation claimed at 15% per annum, the court found the classification of items as 'electrical fittings' ambiguous but deemed the amount insignificant for further consideration. The disallowance of depreciation on the canteen building was rejected based on evidence showing the canteen was operational before the end of the Assessment Year. The court dismissed the Revenue's appeal without costs, addressing all issues comprehensively. Case-Laws Income Tax Mon, 22 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370259