https://www.taxtmi.com/caselaws?id=294051 The Appellate Tribunal ITAT, Delhi limited the disallowance under section 14A of the Income-tax Act to the extent of the exempt income, following precedents from the jurisdictional High Court and the Delhi High Court. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, clarifying that the disallowance should not exceed the amount of exempt income. This decision provides a clear guideline for determining the quantum of disallowance under section 14A, ensuring consistent application of the law. en-us Wed, 21 Mar 2018 00:00:00 +0530 Thu, 18 Mar 2021 09:30:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294051 The Appellate Tribunal ITAT, Delhi limited the disallowance under section 14A of the Income-tax Act to the extent of the exempt income, following precedents from the jurisdictional High Court and the Delhi High Court. The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal, clarifying that the disallowance should not exceed the amount of exempt income. This decision provides a clear guideline for determining the quantum of disallowance under section 14A, ensuring consistent application of the law. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294051