https://www.taxtmi.com/caselaws?id=383988 The Tribunal dismissed the Revenue's appeal challenging the disallowance under Section 14A of the Income Tax Act, as no exempt income was earned during the year. The Tribunal upheld the deletion of the disallowance by the CIT(A), citing the Delhi High Court's decision in Cheminvest Ltd. On the issue of adopting stamp duty registration value under Section 50C, the Assessee's appeal was allowed for statistical purposes. The Tribunal directed verification of consideration received through banking channels before the sale deed date, applying a curative and retrospective interpretation of the amendment to Section 50C. en-us Wed, 31 Jul 2019 00:00:00 +0530 Sat, 03 Aug 2019 09:08:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383988 The Tribunal dismissed the Revenue's appeal challenging the disallowance under Section 14A of the Income Tax Act, as no exempt income was earned during the year. The Tribunal upheld the deletion of the disallowance by the CIT(A), citing the Delhi High Court's decision in Cheminvest Ltd. On the issue of adopting stamp duty registration value under Section 50C, the Assessee's appeal was allowed for statistical purposes. The Tribunal directed verification of consideration received through banking channels before the sale deed date, applying a curative and retrospective interpretation of the amendment to Section 50C. Case-Laws Income Tax Wed, 31 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383988