https://www.taxtmi.com/caselaws?id=408772 The Tribunal partly allowed the assessee's appeal by directing the Assessing Officer to restrict the disallowance under Section 14A to the exempt income earned. The claim under Section 80IA was dismissed, and the penalty proceedings initiation was deemed premature. The revenue's appeal was allowed for statistical purposes, and the Tribunal emphasized strict interpretation of exemption provisions to prevent double taxation of the same income. en-us Thu, 17 Jun 2021 00:00:00 +0530 Mon, 21 Jun 2021 09:34:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408772 The Tribunal partly allowed the assessee's appeal by directing the Assessing Officer to restrict the disallowance under Section 14A to the exempt income earned. The claim under Section 80IA was dismissed, and the penalty proceedings initiation was deemed premature. The revenue's appeal was allowed for statistical purposes, and the Tribunal emphasized strict interpretation of exemption provisions to prevent double taxation of the same income. Case-Laws Income Tax Thu, 17 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408772