https://www.taxtmi.com/caselaws?id=428293 The Tribunal ruled that disallowance under section 14A without exempt income is impermissible, citing legal precedents including SC decisions. It clarified that circulars cannot exceed statutory provisions and upheld the CIT(A)'s decision based on established legal principles. The Tribunal rejected the disallowance made by the Assessing Officer under section 14A due to the absence of exempt income. The revenue's appeal against the CIT(A)'s deletion of disallowance was dismissed, emphasizing consistency with legal precedents and a Co-ordinate Bench decision. en-us Thu, 22 Sep 2022 00:00:00 +0530 Tue, 27 Sep 2022 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428293 The Tribunal ruled that disallowance under section 14A without exempt income is impermissible, citing legal precedents including SC decisions. It clarified that circulars cannot exceed statutory provisions and upheld the CIT(A)'s decision based on established legal principles. The Tribunal rejected the disallowance made by the Assessing Officer under section 14A due to the absence of exempt income. The revenue's appeal against the CIT(A)'s deletion of disallowance was dismissed, emphasizing consistency with legal precedents and a Co-ordinate Bench decision. Case-Laws Income Tax Thu, 22 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428293