https://www.taxtmi.com/caselaws?id=407036 The Tribunal upheld the CIT(A)'s decision regarding the applicability of Section 14A of the Income Tax Act, 1961, ruling that Section 14A cannot be invoked without exempt income. The Tribunal also supported the CIT(A)'s decision to allow depreciation on plant and machinery not actively used during the relevant assessment year, dismissing the Revenue's appeal on both grounds. The Tribunal condoned the delay in the assessee's filing of a cross objection but dismissed it as not maintainable since the Revenue's appeal was unsuccessful. en-us Wed, 21 Apr 2021 00:00:00 +0530 Mon, 27 Jun 2022 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407036 The Tribunal upheld the CIT(A)'s decision regarding the applicability of Section 14A of the Income Tax Act, 1961, ruling that Section 14A cannot be invoked without exempt income. The Tribunal also supported the CIT(A)'s decision to allow depreciation on plant and machinery not actively used during the relevant assessment year, dismissing the Revenue's appeal on both grounds. The Tribunal condoned the delay in the assessee's filing of a cross objection but dismissed it as not maintainable since the Revenue's appeal was unsuccessful. Case-Laws Income Tax Wed, 21 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407036