https://www.taxtmi.com/caselaws?id=281382 The Tribunal upheld the CIT(A)'s decision to delete the disallowance under section 14A read with Rule 8D, as no exempt income was received by the assessee during the year. The Tribunal dismissed the Revenue's appeal, citing legal precedents that no disallowance under section 14A can be made in the absence of actual receipt of exempt income. Additionally, the Tribunal partly allowed the deletion of disallowance under section 40(a)(ia) for non-deduction of TDS, remanding the issue back to the AO for re-examination to consider the latest legal positions and avoid duplicate disallowances. The disallowance of capital work-in-progress written off as business loss was overturned, with the expenses treated as revenue in nature. en-us Wed, 13 Apr 2016 00:00:00 +0530 Mon, 17 Jun 2019 21:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281382 The Tribunal upheld the CIT(A)'s decision to delete the disallowance under section 14A read with Rule 8D, as no exempt income was received by the assessee during the year. The Tribunal dismissed the Revenue's appeal, citing legal precedents that no disallowance under section 14A can be made in the absence of actual receipt of exempt income. Additionally, the Tribunal partly allowed the deletion of disallowance under section 40(a)(ia) for non-deduction of TDS, remanding the issue back to the AO for re-examination to consider the latest legal positions and avoid duplicate disallowances. The disallowance of capital work-in-progress written off as business loss was overturned, with the expenses treated as revenue in nature. Case-Laws Income Tax Wed, 13 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281382