https://www.taxtmi.com/caselaws?id=382918 The High Court dismissed the Tax Appeal, upholding the Tribunal's decision that disallowance under Section 14A of the Income Tax Act cannot be imposed in the absence of exempt income. The Court also affirmed the CIT(A)'s grant of relief on the disallowance made by the assessee without a formal revised return, emphasizing that the Revenue is responsible for assessing the correct income regardless of any mistakes by the assessee. The judgment concluded that no substantial question of law was raised in the case. en-us Tue, 09 Jul 2019 00:00:00 +0530 Thu, 11 Jul 2019 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382918 The High Court dismissed the Tax Appeal, upholding the Tribunal's decision that disallowance under Section 14A of the Income Tax Act cannot be imposed in the absence of exempt income. The Court also affirmed the CIT(A)'s grant of relief on the disallowance made by the assessee without a formal revised return, emphasizing that the Revenue is responsible for assessing the correct income regardless of any mistakes by the assessee. The judgment concluded that no substantial question of law was raised in the case. Case-Laws Income Tax Tue, 09 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382918