https://www.taxtmi.com/caselaws?id=386587 The Tribunal allowed the assessee's appeal, ruling that disallowance under section 14A cannot exceed the amount of exempt income claimed. The decision emphasized that when there is no exempt income, disallowance is not permissible. The Tribunal directed the Assessing Officer to limit the disallowance to the exempt income amount of &8377;95,000, deleting the excess disallowance made. en-us Fri, 17 May 2019 00:00:00 +0530 Tue, 01 Oct 2019 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386587 The Tribunal allowed the assessee's appeal, ruling that disallowance under section 14A cannot exceed the amount of exempt income claimed. The decision emphasized that when there is no exempt income, disallowance is not permissible. The Tribunal directed the Assessing Officer to limit the disallowance to the exempt income amount of &8377;95,000, deleting the excess disallowance made. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386587