https://www.taxtmi.com/caselaws?id=380323 The Tribunal partially allowed the Assessee's appeal, holding that disallowance under Section 14A cannot exceed the amount of exempt income. The Tribunal referred to legal precedents and the Supreme Court's dismissal of the Revenue's special leave petition to support this principle. As a result, the Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to restrict the disallowance to the exempt income amount. The decision was rendered on 29/01/2019. en-us Tue, 29 Jan 2019 00:00:00 +0530 Sat, 18 May 2019 06:50:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380323 The Tribunal partially allowed the Assessee's appeal, holding that disallowance under Section 14A cannot exceed the amount of exempt income. The Tribunal referred to legal precedents and the Supreme Court's dismissal of the Revenue's special leave petition to support this principle. As a result, the Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to restrict the disallowance to the exempt income amount. The decision was rendered on 29/01/2019. Case-Laws Income Tax Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380323