https://www.taxtmi.com/caselaws?id=279703 The High Court upheld the Income Tax Appellate Tribunal's decision to restrict the disallowance of expenditure under section 14A to the extent of the exempt income earned by the assessee. The Court emphasized that the disallowance cannot exceed the amount of exempt income, citing relevant case law. The appeal challenging the ITAT judgment was dismissed, affirming the principle that disallowance under section 14A should be limited to the exempt income. en-us Mon, 31 Jul 2017 00:00:00 +0530 Tue, 02 Apr 2019 07:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279703 The High Court upheld the Income Tax Appellate Tribunal's decision to restrict the disallowance of expenditure under section 14A to the extent of the exempt income earned by the assessee. The Court emphasized that the disallowance cannot exceed the amount of exempt income, citing relevant case law. The appeal challenging the ITAT judgment was dismissed, affirming the principle that disallowance under section 14A should be limited to the exempt income. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279703