https://www.taxtmi.com/caselaws?id=295516 The ITAT upheld the CIT(A)'s decision to restrict disallowance of expenses under Section 14A to the extent of exempt income, citing judicial precedents. It also affirmed the treatment of revenue expenditure on professional and legal fees as revenue in nature. The ITAT dismissed the Revenue's appeal and the assessee's cross objection, supporting the CIT(A)'s rulings on the issues raised. en-us Fri, 15 Nov 2019 00:00:00 +0530 Tue, 08 Jun 2021 09:09:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295516 The ITAT upheld the CIT(A)'s decision to restrict disallowance of expenses under Section 14A to the extent of exempt income, citing judicial precedents. It also affirmed the treatment of revenue expenditure on professional and legal fees as revenue in nature. The ITAT dismissed the Revenue's appeal and the assessee's cross objection, supporting the CIT(A)'s rulings on the issues raised. Case-Laws Income Tax Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295516