https://www.taxtmi.com/caselaws?id=300383 The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s deletion of the addition under Section 14A of the Income Tax Act. It was concluded that no disallowance was justified as no exempt income was earned during the assessment year, and investments were made from shareholders' funds. The Tribunal's decision aligned with relevant High Court precedents, emphasizing the requirement of actual exempt income for disallowance under Section 14A. The order was pronounced on 01/09/2017. en-us Fri, 01 Sep 2017 00:00:00 +0530 Sat, 29 Jan 2022 08:41:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300383 The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s deletion of the addition under Section 14A of the Income Tax Act. It was concluded that no disallowance was justified as no exempt income was earned during the assessment year, and investments were made from shareholders' funds. The Tribunal's decision aligned with relevant High Court precedents, emphasizing the requirement of actual exempt income for disallowance under Section 14A. The order was pronounced on 01/09/2017. Case-Laws Income Tax Fri, 01 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300383