https://www.taxtmi.com/caselaws?id=394190 The Appellate Tribunal upheld the decision to restrict the disallowance under section 14A to the amount of exempt income earned by the assessee. Emphasizing that the disallowance should not exceed the exempt income, the Tribunal dismissed the Revenue's appeal and the assessee's cross objection for want of prosecution. The Tribunal clarified that section 14A provisions should not be invoked if there is no exempt income claimed. en-us Wed, 04 Mar 2020 00:00:00 +0530 Fri, 03 Apr 2020 13:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394190 The Appellate Tribunal upheld the decision to restrict the disallowance under section 14A to the amount of exempt income earned by the assessee. Emphasizing that the disallowance should not exceed the exempt income, the Tribunal dismissed the Revenue's appeal and the assessee's cross objection for want of prosecution. The Tribunal clarified that section 14A provisions should not be invoked if there is no exempt income claimed. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394190