https://www.taxtmi.com/caselaws?id=410139 The Tribunal upheld the CIT(A)'s decision in its entirety, dismissing the Revenue's appeal. The disallowance under Section 14A was deleted as no exempt income was earned, following the precedent set in Cheminvest Ltd. vs CIT-VI. Additionally, the disallowance of prior period expenses was partially reduced by the CIT(A), with the Tribunal affirming the decision based on crystallized liabilities. The appeal was found to lack merit, and the CIT(A)'s rulings on both issues were upheld. en-us Fri, 16 Jul 2021 00:00:00 +0530 Mon, 26 Jul 2021 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410139 The Tribunal upheld the CIT(A)'s decision in its entirety, dismissing the Revenue's appeal. The disallowance under Section 14A was deleted as no exempt income was earned, following the precedent set in Cheminvest Ltd. vs CIT-VI. Additionally, the disallowance of prior period expenses was partially reduced by the CIT(A), with the Tribunal affirming the decision based on crystallized liabilities. The appeal was found to lack merit, and the CIT(A)'s rulings on both issues were upheld. Case-Laws Income Tax Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410139