https://www.taxtmi.com/caselaws?id=371072 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions to delete disallowances under Section 14A of the Income Tax Act when no exempt income was earned and to grant relief on disallowances made by the assessee beyond the return of income. The Tribunal emphasized that Section 14A can only be invoked when expenses are set off against income not forming part of the total income. Legal precedents and principles supported the Tribunal's stance on assessing legitimate tax dues and allowing corrections in income declarations. en-us Wed, 14 Nov 2018 00:00:00 +0530 Wed, 28 Nov 2018 08:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371072 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions to delete disallowances under Section 14A of the Income Tax Act when no exempt income was earned and to grant relief on disallowances made by the assessee beyond the return of income. The Tribunal emphasized that Section 14A can only be invoked when expenses are set off against income not forming part of the total income. Legal precedents and principles supported the Tribunal's stance on assessing legitimate tax dues and allowing corrections in income declarations. Case-Laws Income Tax Wed, 14 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371072