https://www.taxtmi.com/caselaws?id=293089 The Revenue's appeal against the disallowance u/s.14A for the AY 2015-16 was dismissed by the Tribunal. The CIT(A)'s decision, limiting the disallowance to the amount of exempt income earned by the assessee, was upheld based on the Supreme Court's ruling in PCIT v. State Bank of Patiala. The Tribunal emphasized adherence to judicial precedents in interpreting tax laws, affirming that disallowance u/s.14A should be restricted to the actual amount of exempt income, as demonstrated in this case. en-us Fri, 27 Sep 2019 00:00:00 +0530 Sat, 23 Jan 2021 10:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293089 The Revenue's appeal against the disallowance u/s.14A for the AY 2015-16 was dismissed by the Tribunal. The CIT(A)'s decision, limiting the disallowance to the amount of exempt income earned by the assessee, was upheld based on the Supreme Court's ruling in PCIT v. State Bank of Patiala. The Tribunal emphasized adherence to judicial precedents in interpreting tax laws, affirming that disallowance u/s.14A should be restricted to the actual amount of exempt income, as demonstrated in this case. Case-Laws Income Tax Fri, 27 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293089