https://www.taxtmi.com/caselaws?id=381528 The Tribunal upheld the order of the CIT(A) and dismissed the Revenue's appeal regarding disallowance under Section 14A of the Income Tax Act, 1961. The Tribunal confirmed that the disallowance cannot exceed the exempt income earned by the assessee, in line with legal precedents and court rulings. The decision clarified the application of Rule 8D and excluded strategic investments from disallowance calculations, emphasizing the legal principle that disallowance under Section 14A is limited to the extent of exempt income. en-us Mon, 10 Jun 2019 00:00:00 +0530 Thu, 13 Jun 2019 06:44:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381528 The Tribunal upheld the order of the CIT(A) and dismissed the Revenue's appeal regarding disallowance under Section 14A of the Income Tax Act, 1961. The Tribunal confirmed that the disallowance cannot exceed the exempt income earned by the assessee, in line with legal precedents and court rulings. The decision clarified the application of Rule 8D and excluded strategic investments from disallowance calculations, emphasizing the legal principle that disallowance under Section 14A is limited to the extent of exempt income. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381528