https://www.taxtmi.com/caselaws?id=372867 The Tribunal upheld the CIT(A)'s decision, ruling that disallowance under Section 14A of the Income Tax Act was not justified as there was no tax-free income, following precedents set by the Gujarat and Bombay High Courts. Additionally, the disallowance should not be added back to book profits under Section 115JB, aligning with the Special Bench decision in Vireet Investment P. Ltd. The Tribunal dismissed the Revenue's appeal, emphasizing that no such additions should be made based on Section 14A calculations. en-us Fri, 12 Oct 2018 00:00:00 +0530 Tue, 01 Jan 2019 14:11:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372867 The Tribunal upheld the CIT(A)'s decision, ruling that disallowance under Section 14A of the Income Tax Act was not justified as there was no tax-free income, following precedents set by the Gujarat and Bombay High Courts. Additionally, the disallowance should not be added back to book profits under Section 115JB, aligning with the Special Bench decision in Vireet Investment P. Ltd. The Tribunal dismissed the Revenue's appeal, emphasizing that no such additions should be made based on Section 14A calculations. Case-Laws Income Tax Fri, 12 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372867