https://www.taxtmi.com/caselaws?id=293003 The Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to restrict the disallowance of expenses related to exempted income under section 14A to the amount of exempted income earned, which was Rs. 20,000. This decision aligns with a Co-ordinate Bench ruling and a recent Delhi High Court judgment, emphasizing that disallowance under section 14A should not exceed the actual exempt income received. The judgment provides clarity on the application of section 14A, ensuring a fair and reasonable approach in determining the disallowance amount. en-us Fri, 04 Nov 2016 00:00:00 +0530 Mon, 18 Jan 2021 21:37:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293003 The Tribunal partially allowed the assessee's appeal, directing the Assessing Officer to restrict the disallowance of expenses related to exempted income under section 14A to the amount of exempted income earned, which was Rs. 20,000. This decision aligns with a Co-ordinate Bench ruling and a recent Delhi High Court judgment, emphasizing that disallowance under section 14A should not exceed the actual exempt income received. The judgment provides clarity on the application of section 14A, ensuring a fair and reasonable approach in determining the disallowance amount. Case-Laws Income Tax Fri, 04 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293003