https://www.taxtmi.com/caselaws?id=299863 The Tribunal allowed the appeal partially, directing the Assessing Officer to treat the expenditure on the failed IPO as revenue expenditure based on precedents. The disallowance under section 14A was also adjusted, with the Tribunal instructing the AO not to exceed the exempt income for disallowance purposes. The case outcome resulted in the appeal being partly allowed for statistical purposes, with specific guidelines provided for reassessment under section 14A and treatment of failed IPO expenditure. en-us Fri, 18 Jun 2021 00:00:00 +0530 Sat, 01 Jan 2022 08:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299863 The Tribunal allowed the appeal partially, directing the Assessing Officer to treat the expenditure on the failed IPO as revenue expenditure based on precedents. The disallowance under section 14A was also adjusted, with the Tribunal instructing the AO not to exceed the exempt income for disallowance purposes. The case outcome resulted in the appeal being partly allowed for statistical purposes, with specific guidelines provided for reassessment under section 14A and treatment of failed IPO expenditure. Case-Laws Income Tax Fri, 18 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299863