https://www.taxtmi.com/caselaws?id=425607 The High Court condoned the 40-day delay in filing the appeal. The Assessing Officer's addition under Section 14A of the Income Tax Act was set aside by the ITAT, as no exempt income was earned. The ITAT allowed the claim of education cess as an allowable expenditure. The subsidy received from the State of Jammu & Kashmir was treated as a capital receipt. The ITAT's decision was upheld by the High Court, dismissing the department's appeal. en-us Mon, 25 Jul 2022 00:00:00 +0530 Wed, 27 Jul 2022 08:41:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425607 The High Court condoned the 40-day delay in filing the appeal. The Assessing Officer's addition under Section 14A of the Income Tax Act was set aside by the ITAT, as no exempt income was earned. The ITAT allowed the claim of education cess as an allowable expenditure. The subsidy received from the State of Jammu & Kashmir was treated as a capital receipt. The ITAT's decision was upheld by the High Court, dismissing the department's appeal. Case-Laws Income Tax Mon, 25 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425607