https://www.taxtmi.com/caselaws?id=397180 The Tribunal upheld the decision of the Ld. CIT(A) in a case involving the challenge against the deletion of disallowance under section 14A read with Rule 8D of the I.T. Act, 1961 for A.Y. 2014-2015. The appellant, a company engaged in investment activities, faced a disallowance of &8377; 4,34,68,736 by the Assessing Officer. Despite relying on judicial precedents, the Tribunal concluded that since no dividend income was received during the assessment year, no further disallowance should be made. The appeal of the Revenue was dismissed, affirming that Section 14A does not apply in the absence of exempt income receipts. en-us Wed, 15 Jul 2020 00:00:00 +0530 Fri, 07 Aug 2020 07:46:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397180 The Tribunal upheld the decision of the Ld. CIT(A) in a case involving the challenge against the deletion of disallowance under section 14A read with Rule 8D of the I.T. Act, 1961 for A.Y. 2014-2015. The appellant, a company engaged in investment activities, faced a disallowance of &8377; 4,34,68,736 by the Assessing Officer. Despite relying on judicial precedents, the Tribunal concluded that since no dividend income was received during the assessment year, no further disallowance should be made. The appeal of the Revenue was dismissed, affirming that Section 14A does not apply in the absence of exempt income receipts. Case-Laws Income Tax Wed, 15 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397180