https://www.taxtmi.com/caselaws?id=277562 The Tribunal upheld the Commissioner of Income Tax (Appeals) decisions to restrict disallowances under Section 14A and for Office & General Expenses and Repairs and Maintenance Expenses. The disallowance under Section 14A was reduced significantly based on the ratio of exempt income to taxable income, following precedent. The Tribunal found no justification for higher disallowances in the case of Office & General Expenses and Repairs and Maintenance Expenses, emphasizing the lack of specific evidence provided by the Department. Both Revenue's appeals and the assessee's cross objections were dismissed. en-us Tue, 01 Mar 2016 00:00:00 +0530 Tue, 11 Dec 2018 06:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277562 The Tribunal upheld the Commissioner of Income Tax (Appeals) decisions to restrict disallowances under Section 14A and for Office & General Expenses and Repairs and Maintenance Expenses. The disallowance under Section 14A was reduced significantly based on the ratio of exempt income to taxable income, following precedent. The Tribunal found no justification for higher disallowances in the case of Office & General Expenses and Repairs and Maintenance Expenses, emphasizing the lack of specific evidence provided by the Department. Both Revenue's appeals and the assessee's cross objections were dismissed. Case-Laws Income Tax Tue, 01 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277562