https://www.taxtmi.com/caselaws?id=424765 The Tribunal partly allowed the appeal, confirming a partial disallowance under Section 14A read with rule 8D while deleting the rest of the disallowance. The Tribunal emphasized that no disallowance under Section 14A can be made in the absence of exempt income but upheld a specific disallowance under rule 8D(2)(ii). It was noted that the Revenue cannot introduce new provisions for fresh additions or disallowances during an appeal. The decision underscored the importance of substantiating claims with evidence and balanced the arguments of both parties effectively. en-us Wed, 29 Jun 2022 00:00:00 +0530 Fri, 08 Jul 2022 09:33:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424765 The Tribunal partly allowed the appeal, confirming a partial disallowance under Section 14A read with rule 8D while deleting the rest of the disallowance. The Tribunal emphasized that no disallowance under Section 14A can be made in the absence of exempt income but upheld a specific disallowance under rule 8D(2)(ii). It was noted that the Revenue cannot introduce new provisions for fresh additions or disallowances during an appeal. The decision underscored the importance of substantiating claims with evidence and balanced the arguments of both parties effectively. Case-Laws Income Tax Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424765