https://www.taxtmi.com/caselaws?id=280253 The Tribunal dismissed the Revenue's appeal, upholding the CIT (A)'s decision to limit the disallowance under section 14A to the exempt income earned during the assessment year 2011-12. The Tribunal emphasized that the disallowance cannot exceed the exempt income and should not apply if there is no exempt income. The decision was rendered on 25th May 2018 by Smt. P. Madhavi Devi, Judicial Member, and Shri B. Ramakotaiah, Accountant Member. en-us Fri, 25 May 2018 00:00:00 +0530 Sat, 27 Apr 2019 06:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280253 The Tribunal dismissed the Revenue's appeal, upholding the CIT (A)'s decision to limit the disallowance under section 14A to the exempt income earned during the assessment year 2011-12. The Tribunal emphasized that the disallowance cannot exceed the exempt income and should not apply if there is no exempt income. The decision was rendered on 25th May 2018 by Smt. P. Madhavi Devi, Judicial Member, and Shri B. Ramakotaiah, Accountant Member. Case-Laws Income Tax Fri, 25 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280253