https://www.taxtmi.com/caselaws?id=297307 The ITAT Ahmedabad dismissed the appeal against the CIT(A) order regarding disallowance under section 14A and Rule 8D(iii) of the Income Tax Act, 1961 for the assessment year 2014-15. The ITAT upheld the CIT(A)'s decision to delete the disallowance, emphasizing that disallowance under section 14A cannot be made if no exempt income was earned. Additionally, the ITAT endorsed the CIT(A)'s grant of relief on the disallowance made by the assessee without a revised return filed, stating that the Revenue must assess the correct income regardless of the filing status. The appeal was partly allowed, and all other issues were deemed infructuous. en-us Tue, 11 Jun 2019 00:00:00 +0530 Thu, 26 Aug 2021 21:35:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297307 The ITAT Ahmedabad dismissed the appeal against the CIT(A) order regarding disallowance under section 14A and Rule 8D(iii) of the Income Tax Act, 1961 for the assessment year 2014-15. The ITAT upheld the CIT(A)'s decision to delete the disallowance, emphasizing that disallowance under section 14A cannot be made if no exempt income was earned. Additionally, the ITAT endorsed the CIT(A)'s grant of relief on the disallowance made by the assessee without a revised return filed, stating that the Revenue must assess the correct income regardless of the filing status. The appeal was partly allowed, and all other issues were deemed infructuous. Case-Laws Income Tax Tue, 11 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297307