https://www.taxtmi.com/caselaws?id=382139 The ITAT allowed the appeal of the assessee, emphasizing the requirement for the Assessing Officer to establish a direct link between expenses and exempt income before making any disallowance under section 14A of the Income-tax Act. The ITAT held that both the AO and CIT(A) erred in making and upholding the disallowance as there was no clear nexus established. The decision stressed the importance of recording proper satisfaction to ensure a valid disallowance under section 14A. en-us Wed, 19 Jun 2019 00:00:00 +0530 Tue, 25 Jun 2019 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382139 The ITAT allowed the appeal of the assessee, emphasizing the requirement for the Assessing Officer to establish a direct link between expenses and exempt income before making any disallowance under section 14A of the Income-tax Act. The ITAT held that both the AO and CIT(A) erred in making and upholding the disallowance as there was no clear nexus established. The decision stressed the importance of recording proper satisfaction to ensure a valid disallowance under section 14A. Case-Laws Income Tax Wed, 19 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382139