https://www.taxtmi.com/caselaws?id=401491 The Tribunal, in a case involving an appeal against the deletion of an addition made under Section 14A read with Rule 8D of the Income Tax Act, dismissed the Revenue's appeal. The Tribunal found that as there was no exempt income attributable to the appellant, the application of Section 14A read with Rule 8D was not warranted. Emphasizing the necessity of actual expenditure and the presence of exempt income, the Tribunal upheld the CIT(A)'s decision, citing the Supreme Court's ruling in Maxopp Investment Ltd. vs. CIT. The appeal was dismissed on August 27, 2020. en-us Thu, 27 Aug 2020 00:00:00 +0530 Wed, 09 Dec 2020 11:08:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401491 The Tribunal, in a case involving an appeal against the deletion of an addition made under Section 14A read with Rule 8D of the Income Tax Act, dismissed the Revenue's appeal. The Tribunal found that as there was no exempt income attributable to the appellant, the application of Section 14A read with Rule 8D was not warranted. Emphasizing the necessity of actual expenditure and the presence of exempt income, the Tribunal upheld the CIT(A)'s decision, citing the Supreme Court's ruling in Maxopp Investment Ltd. vs. CIT. The appeal was dismissed on August 27, 2020. Case-Laws Income Tax Thu, 27 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401491