https://www.taxtmi.com/caselaws?id=428742 HC held that Section 14A disallowance applies only where exempt income was actually received or was receivable in the relevant previous year; mere scope or potential of such income does not form part of "total income" for triggering disallowance. The court followed a prior Division Bench decision and further held that the Finance Act, 2022 amendment to Section 14A, being clarificatory, cannot be presumed retrospective if it changes the existing law. Consequently, no substantial question of law arose. en-us Thu, 06 Oct 2022 00:00:00 +0530 Mon, 27 Oct 2025 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428742 HC held that Section 14A disallowance applies only where exempt income was actually received or was receivable in the relevant previous year; mere scope or potential of such income does not form part of "total income" for triggering disallowance. The court followed a prior Division Bench decision and further held that the Finance Act, 2022 amendment to Section 14A, being clarificatory, cannot be presumed retrospective if it changes the existing law. Consequently, no substantial question of law arose. Case-Laws Income Tax Thu, 06 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428742