https://www.taxtmi.com/caselaws?id=411779 The Tribunal ruled that the grant received by the assessee from the Government of Andhra Pradesh should be treated as a revenue receipt and taxed accordingly. However, the Tribunal upheld the deletion of the disallowance made under Section 14A as there was no exempt income earned by the assessee during the relevant assessment year. The Tribunal directed the Assessing Officer to delete the disallowance under Section 14A read with Rule 8D(2)(iii). en-us Tue, 24 Aug 2021 00:00:00 +0530 Thu, 02 Sep 2021 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411779 The Tribunal ruled that the grant received by the assessee from the Government of Andhra Pradesh should be treated as a revenue receipt and taxed accordingly. However, the Tribunal upheld the deletion of the disallowance made under Section 14A as there was no exempt income earned by the assessee during the relevant assessment year. The Tribunal directed the Assessing Officer to delete the disallowance under Section 14A read with Rule 8D(2)(iii). Case-Laws Income Tax Tue, 24 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411779