https://www.taxtmi.com/caselaws?id=392045 The Court dismissed the appeal filed by the revenue against the order of the Income Tax Appellate Tribunal, Mumbai Bench 'B' for the assessment year 2008-09. The appeal questioned the deletion of disallowance under Section 14A of the Income Tax Act, 1961, despite no dividend income being earned. The Court held that in the absence of exempt income, disallowance under Section 14A is not permissible, in line with previous judgments and the CBDT Circular No. 5/2014. As there was no exempt income for the assessee in the relevant year, the appeal was dismissed without costs. en-us Tue, 21 Jan 2020 00:00:00 +0530 Wed, 12 Feb 2020 08:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392045 The Court dismissed the appeal filed by the revenue against the order of the Income Tax Appellate Tribunal, Mumbai Bench 'B' for the assessment year 2008-09. The appeal questioned the deletion of disallowance under Section 14A of the Income Tax Act, 1961, despite no dividend income being earned. The Court held that in the absence of exempt income, disallowance under Section 14A is not permissible, in line with previous judgments and the CBDT Circular No. 5/2014. As there was no exempt income for the assessee in the relevant year, the appeal was dismissed without costs. Case-Laws Income Tax Tue, 21 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392045