https://www.taxtmi.com/caselaws?id=282297 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection, affirming the deletion of expenses related to exempt income under section 14A. The decision was based on the absence of exempt income during the relevant year, in line with legal interpretations and precedents, including a Bombay High Court decision. The Tribunal emphasized that no disallowance could be made under section 14A when no exempt income was earned, leading to the deletion of the disallowance made by the appellant. en-us Mon, 15 Apr 2019 00:00:00 +0530 Thu, 01 Aug 2019 05:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282297 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection, affirming the deletion of expenses related to exempt income under section 14A. The decision was based on the absence of exempt income during the relevant year, in line with legal interpretations and precedents, including a Bombay High Court decision. The Tribunal emphasized that no disallowance could be made under section 14A when no exempt income was earned, leading to the deletion of the disallowance made by the appellant. Case-Laws Income Tax Mon, 15 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282297