https://www.taxtmi.com/caselaws?id=408061 The Tribunal upheld the deletion of disallowances under sections 37(1) and 14A of the Income-tax Act. In the first issue, the Commissioner's decision to delete the disallowance under section 37(1) was upheld, emphasizing consistency with a previous favorable decision for the assessee. Regarding the deletion of disallowance under section 14A, the Tribunal affirmed the decision due to the absence of exempt income in the relevant year, aligning with a precedent where a similar disallowance was overturned. The revenue's appeal was dismissed based on these grounds, highlighting the importance of past decisions and exempt income in such cases. en-us Mon, 03 May 2021 00:00:00 +0530 Sat, 29 May 2021 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408061 The Tribunal upheld the deletion of disallowances under sections 37(1) and 14A of the Income-tax Act. In the first issue, the Commissioner's decision to delete the disallowance under section 37(1) was upheld, emphasizing consistency with a previous favorable decision for the assessee. Regarding the deletion of disallowance under section 14A, the Tribunal affirmed the decision due to the absence of exempt income in the relevant year, aligning with a precedent where a similar disallowance was overturned. The revenue's appeal was dismissed based on these grounds, highlighting the importance of past decisions and exempt income in such cases. Case-Laws Income Tax Mon, 03 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408061