https://www.taxtmi.com/caselaws?id=375729 The Tribunal dismissed the Revenue's appeal and upheld the decision to delete the disallowance under section 14A of the Act due to the absence of exempt income in the relevant assessment year. The Commissioner (Appeals) decision to delete the disallowance was supported, emphasizing that no disallowance can be invoked under section 14A if no exempt income was earned in that year. The Tribunal rejected the Revenue's argument, citing various decisions and highlighting that disallowance cannot be made without exempt income, ultimately affirming the deletion of the disallowance. en-us Wed, 30 Jan 2019 00:00:00 +0530 Sun, 24 Feb 2019 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375729 The Tribunal dismissed the Revenue's appeal and upheld the decision to delete the disallowance under section 14A of the Act due to the absence of exempt income in the relevant assessment year. The Commissioner (Appeals) decision to delete the disallowance was supported, emphasizing that no disallowance can be invoked under section 14A if no exempt income was earned in that year. The Tribunal rejected the Revenue's argument, citing various decisions and highlighting that disallowance cannot be made without exempt income, ultimately affirming the deletion of the disallowance. Case-Laws Income Tax Wed, 30 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375729