https://www.taxtmi.com/caselaws?id=404824 The Tribunal dismissed the Revenue's appeal challenging the deletion of disallowance under Section 14A of the Income Tax Act for the assessment year 2016-17. The Tribunal upheld that since the assessee did not earn any exempt income during the relevant financial year, no disallowance under Section 14A could be made, in line with legal precedents and decisions by various High Courts. Consequently, the Tribunal affirmed the CIT(A)'s order and deleted the disallowance imposed by the Assessing Officer, leading to the dismissal of the Revenue's appeal. en-us Tue, 09 Feb 2021 00:00:00 +0530 Fri, 05 Mar 2021 09:39:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404824 The Tribunal dismissed the Revenue's appeal challenging the deletion of disallowance under Section 14A of the Income Tax Act for the assessment year 2016-17. The Tribunal upheld that since the assessee did not earn any exempt income during the relevant financial year, no disallowance under Section 14A could be made, in line with legal precedents and decisions by various High Courts. Consequently, the Tribunal affirmed the CIT(A)'s order and deleted the disallowance imposed by the Assessing Officer, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 09 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404824