https://www.taxtmi.com/caselaws?id=395698 The Tribunal allowed the appeal, setting aside the disallowance under Section 14A by the Assessing Officer as no exempt income was earned. Relying on the Madras High Court's precedent, the Tribunal emphasized the importance of following higher court judgments and held that disallowance cannot be imposed when no exempt income is earned. The Tribunal stressed the CIT(A)'s duty to adhere to decisions of higher courts, leading to the deletion of the disallowance. en-us Wed, 19 Feb 2020 00:00:00 +0530 Tue, 02 Jun 2020 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395698 The Tribunal allowed the appeal, setting aside the disallowance under Section 14A by the Assessing Officer as no exempt income was earned. Relying on the Madras High Court's precedent, the Tribunal emphasized the importance of following higher court judgments and held that disallowance cannot be imposed when no exempt income is earned. The Tribunal stressed the CIT(A)'s duty to adhere to decisions of higher courts, leading to the deletion of the disallowance. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395698