https://www.taxtmi.com/caselaws?id=283040 The Court dismissed the appeal as it found no substantial question of law arising from the issues raised by the revenue. The disallowance under Section 14A was upheld based on previous decisions limiting the disallowance to actual exempted income. Regarding payment of brokerage expenses, the Court ruled in favor of allowing the expenses as financial costs or selling expenses. The taxation of club membership receipts was also deemed in line with accounting principles. Ultimately, the Court's detailed analysis led to the dismissal of the appeal. en-us Fri, 25 Jan 2019 00:00:00 +0530 Wed, 04 Sep 2019 13:42:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283040 The Court dismissed the appeal as it found no substantial question of law arising from the issues raised by the revenue. The disallowance under Section 14A was upheld based on previous decisions limiting the disallowance to actual exempted income. Regarding payment of brokerage expenses, the Court ruled in favor of allowing the expenses as financial costs or selling expenses. The taxation of club membership receipts was also deemed in line with accounting principles. Ultimately, the Court's detailed analysis led to the dismissal of the appeal. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283040