https://www.taxtmi.com/caselaws?id=297445 The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the disallowance under section 14A. The Tribunal held that since no exempt income was earned during the relevant year, disallowance under section 14A was not applicable, aligning with the precedent set by the Jurisdictional High Court. This decision overturned the CIT (Appeals) confirmation of the disallowance, emphasizing the necessity of actual receipt of exempt income for such disallowance. en-us Thu, 20 Apr 2017 00:00:00 +0530 Sun, 05 Sep 2021 21:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297445 The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the disallowance under section 14A. The Tribunal held that since no exempt income was earned during the relevant year, disallowance under section 14A was not applicable, aligning with the precedent set by the Jurisdictional High Court. This decision overturned the CIT (Appeals) confirmation of the disallowance, emphasizing the necessity of actual receipt of exempt income for such disallowance. Case-Laws Income Tax Thu, 20 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297445