https://www.taxtmi.com/caselaws?id=396831 The Tribunal partly allowed the appeals by directing the AO to disallow 25% of identified expenses related to earning exempt income under Section 14A for multiple assessment years. The Tribunal did not adjudicate on the jurisdiction under Section 154 or the validity of reopening assessments under Section 147 due to the lack of specific grounds raised. Issues regarding interest chargeability and penalty proceedings were considered consequential and premature, respectively. The decision was based on the case's unique circumstances and not intended as a binding precedent. en-us Wed, 08 Jul 2020 00:00:00 +0530 Tue, 21 Jul 2020 10:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396831 The Tribunal partly allowed the appeals by directing the AO to disallow 25% of identified expenses related to earning exempt income under Section 14A for multiple assessment years. The Tribunal did not adjudicate on the jurisdiction under Section 154 or the validity of reopening assessments under Section 147 due to the lack of specific grounds raised. Issues regarding interest chargeability and penalty proceedings were considered consequential and premature, respectively. The decision was based on the case's unique circumstances and not intended as a binding precedent. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396831