https://www.taxtmi.com/caselaws?id=299957 The ITAT partially allowed the appeal, limiting the disallowance under section 14A of the Income Tax Act to the amount of income claimed as exempt by the assessee. The ITAT directed the AO to restrict the disallowance in line with previous decisions, ensuring that it does not exceed the exempt income. The judgment emphasized adherence to relevant case laws and previous rulings in determining the disallowance amount, providing clarity on the calculation and restriction of disallowance. en-us Fri, 17 Feb 2017 00:00:00 +0530 Fri, 07 Jan 2022 08:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299957 The ITAT partially allowed the appeal, limiting the disallowance under section 14A of the Income Tax Act to the amount of income claimed as exempt by the assessee. The ITAT directed the AO to restrict the disallowance in line with previous decisions, ensuring that it does not exceed the exempt income. The judgment emphasized adherence to relevant case laws and previous rulings in determining the disallowance amount, providing clarity on the calculation and restriction of disallowance. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299957