https://www.taxtmi.com/caselaws?id=290507 The ITAT Mumbai allowed the appeal, ruling in favor of the assessee in a case concerning the disallowance of expenses under section 14A and the applicability of section 14A to a partner's share income from a firm. The ITAT held that the partner's share income retains the character of business income and is exempt from double taxation, following the Sudhir Kapadia precedent. Consequently, section 14A was deemed not applicable, leading to the deletion of the disallowed expenses and allowing the appeal. en-us Fri, 25 Feb 2011 00:00:00 +0530 Thu, 01 Oct 2020 14:10:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290507 The ITAT Mumbai allowed the appeal, ruling in favor of the assessee in a case concerning the disallowance of expenses under section 14A and the applicability of section 14A to a partner's share income from a firm. The ITAT held that the partner's share income retains the character of business income and is exempt from double taxation, following the Sudhir Kapadia precedent. Consequently, section 14A was deemed not applicable, leading to the deletion of the disallowed expenses and allowing the appeal. Case-Laws Income Tax Fri, 25 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290507