https://www.taxtmi.com/caselaws?id=380468 The Tribunal allowed the appeal, setting aside the Ld. CIT(Appeals) order regarding the disallowance of expenses under section 14A r.w.r.8D of the Income Tax Rules, 1962 for the assessment year 2012-13. The Tribunal accepted the assessee's argument that no exempt income was earned during the year, and investments were made using interest-free funds. Relying on judicial pronouncements and precedents, including decisions by various High Courts, the Tribunal held that disallowance under section 14A was not applicable in the absence of exempt income. The appeal was allowed in favor of the assessee on May 17, 2019. en-us Fri, 17 May 2019 00:00:00 +0530 Wed, 22 May 2019 07:27:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380468 The Tribunal allowed the appeal, setting aside the Ld. CIT(Appeals) order regarding the disallowance of expenses under section 14A r.w.r.8D of the Income Tax Rules, 1962 for the assessment year 2012-13. The Tribunal accepted the assessee's argument that no exempt income was earned during the year, and investments were made using interest-free funds. Relying on judicial pronouncements and precedents, including decisions by various High Courts, the Tribunal held that disallowance under section 14A was not applicable in the absence of exempt income. The appeal was allowed in favor of the assessee on May 17, 2019. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380468