https://www.taxtmi.com/caselaws?id=280378 The Tribunal allowed the appellant's appeal, directing the deletion of the addition made by the Assessing Officer under section 14A of the Income-tax Act, 1961 read with Rule 8D of the Income-tax Rules, 1962. Despite the AO's reliance on potential tax-exempt dividend income from the appellant's investments in other companies, the Tribunal found that the appellant had not earned any dividend or tax-free income during the relevant assessment year. Citing High Court judgments, the Tribunal held that when no exempt income is earned, section 14A cannot be invoked to disallow expenditures. en-us Fri, 10 Jul 2015 00:00:00 +0530 Fri, 03 May 2019 08:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280378 The Tribunal allowed the appellant's appeal, directing the deletion of the addition made by the Assessing Officer under section 14A of the Income-tax Act, 1961 read with Rule 8D of the Income-tax Rules, 1962. Despite the AO's reliance on potential tax-exempt dividend income from the appellant's investments in other companies, the Tribunal found that the appellant had not earned any dividend or tax-free income during the relevant assessment year. Citing High Court judgments, the Tribunal held that when no exempt income is earned, section 14A cannot be invoked to disallow expenditures. Case-Laws Income Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280378