https://www.taxtmi.com/caselaws?id=370824 The Tribunal upheld the CIT(A)'s decision to delete disallowance under section 14A as no dividend income was received, rendering section 14A and Rule 8D inapplicable. The Tribunal clarified that section 14A applies to quantify expenses related to exempt income, but since there was no exempt income, it did not apply. The Tribunal admitted and dismissed the Cross-Objection after condoning the delay in filing, as the revenue's appeal decision was upheld, making the Cross-Objection infructuous. en-us Thu, 15 Nov 2018 00:00:00 +0530 Sat, 24 Nov 2018 07:26:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370824 The Tribunal upheld the CIT(A)'s decision to delete disallowance under section 14A as no dividend income was received, rendering section 14A and Rule 8D inapplicable. The Tribunal clarified that section 14A applies to quantify expenses related to exempt income, but since there was no exempt income, it did not apply. The Tribunal admitted and dismissed the Cross-Objection after condoning the delay in filing, as the revenue's appeal decision was upheld, making the Cross-Objection infructuous. Case-Laws Income Tax Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370824