https://www.taxtmi.com/caselaws?id=380403 The High Court upheld the Tribunal's decision, limiting the disallowance under Section 14A of the Income Tax Act to the amount of exempt income earned by the assessee, in accordance with legal precedents. The judgment emphasized the correct apportionment of expenditure, particularly in cases involving shares held as stock-in-trade, aligning with established principles and previous rulings. This decision ensures consistency and compliance with the law in income tax assessments and disallowances. en-us Fri, 10 May 2019 00:00:00 +0530 Mon, 20 May 2019 07:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380403 The High Court upheld the Tribunal's decision, limiting the disallowance under Section 14A of the Income Tax Act to the amount of exempt income earned by the assessee, in accordance with legal precedents. The judgment emphasized the correct apportionment of expenditure, particularly in cases involving shares held as stock-in-trade, aligning with established principles and previous rulings. This decision ensures consistency and compliance with the law in income tax assessments and disallowances. Case-Laws Income Tax Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380403