https://www.taxtmi.com/caselaws?id=286304 The court ruled in favor of the assessee, stating that disallowance under section 14A of the Income-tax Act could not be made as no exempt income was earned during the relevant assessment year. The court emphasized that section 14A applies only when exempt income is actually earned. The appeal by the Revenue was dismissed, and no costs were awarded. en-us Wed, 23 Jan 2019 00:00:00 +0530 Thu, 20 Feb 2020 10:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286304 The court ruled in favor of the assessee, stating that disallowance under section 14A of the Income-tax Act could not be made as no exempt income was earned during the relevant assessment year. The court emphasized that section 14A applies only when exempt income is actually earned. The appeal by the Revenue was dismissed, and no costs were awarded. Case-Laws Income Tax Wed, 23 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286304