https://www.taxtmi.com/caselaws?id=293426 The Tribunal upheld the disallowance of &8377;17,02,500 under section 14A of the Income Tax Act, 1961, citing the principles from the Maxopp Investment Ltd. v. CIT case. Despite the absence of exempt income, the disallowance was confirmed based on the interpretation of section 14A and Rule 8D. The Tribunal emphasized that investments in subsidiaries attracting section 14A are subject to disallowance, regardless of the purpose of investment. The decision aligned with the Supreme Court's judgment, leading to the dismissal of the appeal. en-us Thu, 31 Jan 2019 00:00:00 +0530 Wed, 10 Feb 2021 19:08:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293426 The Tribunal upheld the disallowance of &8377;17,02,500 under section 14A of the Income Tax Act, 1961, citing the principles from the Maxopp Investment Ltd. v. CIT case. Despite the absence of exempt income, the disallowance was confirmed based on the interpretation of section 14A and Rule 8D. The Tribunal emphasized that investments in subsidiaries attracting section 14A are subject to disallowance, regardless of the purpose of investment. The decision aligned with the Supreme Court's judgment, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293426