https://www.taxtmi.com/caselaws?id=400522 The Court upheld the Tribunal's decision in deleting additions made under Section 14A of the Income Tax Act, ruling that the Revenue failed to establish a direct link between the expenditure and the tax-exempt income. Additionally, the Court supported the Tribunal's deletion of the AO's addition of capital expenditure, finding that the contribution made by the Assessee for constructing a bridge was revenue expenditure, not capital. As a result, the appeal was dismissed in favor of the Assessee, with no order as to costs. en-us Fri, 06 Nov 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400522 The Court upheld the Tribunal's decision in deleting additions made under Section 14A of the Income Tax Act, ruling that the Revenue failed to establish a direct link between the expenditure and the tax-exempt income. Additionally, the Court supported the Tribunal's deletion of the AO's addition of capital expenditure, finding that the contribution made by the Assessee for constructing a bridge was revenue expenditure, not capital. As a result, the appeal was dismissed in favor of the Assessee, with no order as to costs. Case-Laws Income Tax Fri, 06 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400522