https://www.taxtmi.com/caselaws?id=381589 The appeal by the revenue challenging the disallowance under section 14A of the Income Tax Act was dismissed by the Tribunal. The deletion of the addition of Rs. 4,65,04,000 was upheld, as the absence of dividend income during the relevant year aligned with the decision in Cheminvest Ltd. The Tribunal emphasized that disallowance under section 14A with Rule 8D is not warranted when no dividend income is received. The decision underscored the necessity of actual receipt of exempt income for invoking section 14A, based on established legal principles and precedents. en-us Wed, 12 Jun 2019 00:00:00 +0530 Thu, 01 Dec 2022 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381589 The appeal by the revenue challenging the disallowance under section 14A of the Income Tax Act was dismissed by the Tribunal. The deletion of the addition of Rs. 4,65,04,000 was upheld, as the absence of dividend income during the relevant year aligned with the decision in Cheminvest Ltd. The Tribunal emphasized that disallowance under section 14A with Rule 8D is not warranted when no dividend income is received. The decision underscored the necessity of actual receipt of exempt income for invoking section 14A, based on established legal principles and precedents. Case-Laws Income Tax Wed, 12 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381589