https://www.taxtmi.com/caselaws?id=392511 The High Court upheld the decisions of the lower authorities, ruling that the disallowance under Section 14A of the Income Tax Act was not justified as the assessee had not earned any exempt income during the relevant year. The Court emphasized that for Section 14A to apply, the assessee must have earned exempt income, which was not the case here. Consequently, the Tax Appeal was dismissed, affirming that no disallowance should be made under Section 14A when no exempt income is earned. en-us Mon, 17 Feb 2020 00:00:00 +0530 Thu, 20 Feb 2020 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392511 The High Court upheld the decisions of the lower authorities, ruling that the disallowance under Section 14A of the Income Tax Act was not justified as the assessee had not earned any exempt income during the relevant year. The Court emphasized that for Section 14A to apply, the assessee must have earned exempt income, which was not the case here. Consequently, the Tax Appeal was dismissed, affirming that no disallowance should be made under Section 14A when no exempt income is earned. Case-Laws Income Tax Mon, 17 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392511