https://www.taxtmi.com/caselaws?id=374414 The ITAT upheld the deletion of disallowance under section 14A for Assessment Year 2011-12, restricting it to the exempt income. However, it allowed the disallowance of depreciation on Weighing Scales for the same year. For Assessment Year 2012-13, the ITAT upheld the deletion of disallowance under section 14A due to the absence of exempt income. The disallowance of higher depreciation on Weighing Scale was upheld, but the appeal regarding disallowance in the absence of exempt income was remanded for further consideration. The Revenue's appeals were partly allowed, and the assessee's appeal was allowed for statistical purposes. en-us Mon, 31 Dec 2018 00:00:00 +0530 Fri, 01 Feb 2019 07:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374414 The ITAT upheld the deletion of disallowance under section 14A for Assessment Year 2011-12, restricting it to the exempt income. However, it allowed the disallowance of depreciation on Weighing Scales for the same year. For Assessment Year 2012-13, the ITAT upheld the deletion of disallowance under section 14A due to the absence of exempt income. The disallowance of higher depreciation on Weighing Scale was upheld, but the appeal regarding disallowance in the absence of exempt income was remanded for further consideration. The Revenue's appeals were partly allowed, and the assessee's appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374414