https://www.taxtmi.com/caselaws?id=401108 The Tribunal upheld the decision of the ld. CIT(A) to delete the addition made by the Assessing Officer under section 14A of the Income Tax Act, 1961. The Tribunal dismissed the Revenue's appeal, emphasizing that in the absence of any exempt income reported by the assessee during the relevant year, the disallowance under section 14A was not justified. Legal precedents supported this decision, including rulings stating that if no profit was derived from exempt income, disallowance under section 14A would not apply. The order was pronounced on November 23, 2020. en-us Mon, 23 Nov 2020 00:00:00 +0530 Thu, 26 Nov 2020 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401108 The Tribunal upheld the decision of the ld. CIT(A) to delete the addition made by the Assessing Officer under section 14A of the Income Tax Act, 1961. The Tribunal dismissed the Revenue's appeal, emphasizing that in the absence of any exempt income reported by the assessee during the relevant year, the disallowance under section 14A was not justified. Legal precedents supported this decision, including rulings stating that if no profit was derived from exempt income, disallowance under section 14A would not apply. The order was pronounced on November 23, 2020. Case-Laws Income Tax Mon, 23 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401108