https://www.taxtmi.com/caselaws?id=417687 The Tribunal dismissed the Revenue's appeal and allowed the Assessee's cross-objection, directing the AO to verify and allow the claims related to disallowance under Section 14A, additional deduction under Section 32AC, and deduction of Cess on income-taxes and DDT paid. The Tribunal upheld the CIT(A)'s decision regarding disallowance under Section 14A, emphasizing that if no exempt income is earned, Section 14A and Rule 8D do not apply. The Tribunal also accepted the Assessee's arguments on the additional deduction and deduction of Cess, remanding the matters to the AO for verification and appropriate action. en-us Thu, 27 Jan 2022 00:00:00 +0530 Sat, 29 Jan 2022 08:44:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417687 The Tribunal dismissed the Revenue's appeal and allowed the Assessee's cross-objection, directing the AO to verify and allow the claims related to disallowance under Section 14A, additional deduction under Section 32AC, and deduction of Cess on income-taxes and DDT paid. The Tribunal upheld the CIT(A)'s decision regarding disallowance under Section 14A, emphasizing that if no exempt income is earned, Section 14A and Rule 8D do not apply. The Tribunal also accepted the Assessee's arguments on the additional deduction and deduction of Cess, remanding the matters to the AO for verification and appropriate action. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417687