https://www.taxtmi.com/caselaws?id=418035 The High Court limited the disallowance under Section 14A of the Income Tax Act to the amount voluntarily disallowed by the assessee. The Court emphasized the necessity for the assessing officer to be satisfied with the correctness of the claim made by the assessee regarding expenditure incurred in earning exempt income. The judgment highlighted the importance of adhering to the provisions of the Income Tax Act and relevant case laws in determining disallowances related to exempt income. en-us Fri, 28 Jan 2022 00:00:00 +0530 Mon, 07 Feb 2022 08:14:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418035 The High Court limited the disallowance under Section 14A of the Income Tax Act to the amount voluntarily disallowed by the assessee. The Court emphasized the necessity for the assessing officer to be satisfied with the correctness of the claim made by the assessee regarding expenditure incurred in earning exempt income. The judgment highlighted the importance of adhering to the provisions of the Income Tax Act and relevant case laws in determining disallowances related to exempt income. Case-Laws Income Tax Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418035