https://www.taxtmi.com/caselaws?id=400237 The HC dismissed the Revenue's appeal, affirming the ITAT's decision favoring the assessee. The Tribunal ruled that Section 14A, read with Rule 8D, does not apply when no exempt income is received, even with investments in subsidiaries. Additionally, the Tribunal granted depreciation relief under Section 43A, which was upheld. The Substantial Questions of Law were resolved against the Revenue, with no costs awarded. en-us Fri, 16 Oct 2020 00:00:00 +0530 Tue, 05 Nov 2024 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400237 The HC dismissed the Revenue's appeal, affirming the ITAT's decision favoring the assessee. The Tribunal ruled that Section 14A, read with Rule 8D, does not apply when no exempt income is received, even with investments in subsidiaries. Additionally, the Tribunal granted depreciation relief under Section 43A, which was upheld. The Substantial Questions of Law were resolved against the Revenue, with no costs awarded. Case-Laws Income Tax Fri, 16 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400237