https://www.taxtmi.com/caselaws?id=425538 The HC dismissed the revenue's appeal, upholding the ITAT's deletion of the Section 14A disallowance and finding the Finance Act, 2022 amendment to Section 14A not retrospective (effective 1 Apr 2022 for AY 2022-23 onwards). The Court followed its earlier Division Bench rulings (including the ILFS and Cheminvest decisions) that no disallowance under Section 14A can be made where no exempt income was earned, noting those decisions remain binding and no stay exists; the order will await and abide by the Supreme Court's eventual decision in the related SLP. en-us Wed, 20 Jul 2022 00:00:00 +0530 Tue, 02 Sep 2025 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425538 The HC dismissed the revenue's appeal, upholding the ITAT's deletion of the Section 14A disallowance and finding the Finance Act, 2022 amendment to Section 14A not retrospective (effective 1 Apr 2022 for AY 2022-23 onwards). The Court followed its earlier Division Bench rulings (including the ILFS and Cheminvest decisions) that no disallowance under Section 14A can be made where no exempt income was earned, noting those decisions remain binding and no stay exists; the order will await and abide by the Supreme Court's eventual decision in the related SLP. Case-Laws Income Tax Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425538