https://www.taxtmi.com/caselaws?id=286326 The ITAT dismissed the revenue's appeal regarding disallowance under section 14A of the Income Tax Act for A.Y. 2014-15 & 2013-14. The CIT(A)'s decision to delete the disallowance was upheld as the assessee did not earn any exempt income during the relevant years. The ITAT emphasized that if no exempt income is earned, the provision of section 14A does not apply, and disallowance under Rule 8D is not applicable. Therefore, the appeals were dismissed based on the absence of exempt income earned by the assessee. en-us Wed, 15 May 2019 00:00:00 +0530 Fri, 21 Feb 2020 10:21:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286326 The ITAT dismissed the revenue's appeal regarding disallowance under section 14A of the Income Tax Act for A.Y. 2014-15 & 2013-14. The CIT(A)'s decision to delete the disallowance was upheld as the assessee did not earn any exempt income during the relevant years. The ITAT emphasized that if no exempt income is earned, the provision of section 14A does not apply, and disallowance under Rule 8D is not applicable. Therefore, the appeals were dismissed based on the absence of exempt income earned by the assessee. Case-Laws Income Tax Wed, 15 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286326