https://www.taxtmi.com/caselaws?id=381522 The Tribunal upheld the order of the CIT(A) and dismissed the Revenue's appeal regarding the addition under section 14A of the Income Tax Act. The Tribunal found that since the assessee did not earn any tax-exempt income during the relevant year, no disallowance under section 14A was warranted. The decision was based on various High Court precedents, including the Punjab and Haryana High Court, Delhi High Court, and Gujarat High Court, emphasizing that section 14A cannot be applied without actual receipt of exempt income for the assessment year. en-us Mon, 03 Jun 2019 00:00:00 +0530 Thu, 13 Jun 2019 06:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381522 The Tribunal upheld the order of the CIT(A) and dismissed the Revenue's appeal regarding the addition under section 14A of the Income Tax Act. The Tribunal found that since the assessee did not earn any tax-exempt income during the relevant year, no disallowance under section 14A was warranted. The decision was based on various High Court precedents, including the Punjab and Haryana High Court, Delhi High Court, and Gujarat High Court, emphasizing that section 14A cannot be applied without actual receipt of exempt income for the assessment year. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381522