https://www.taxtmi.com/caselaws?id=430458 The Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowance of Rs. 76,22,179 under section 14A. It held that for A.Y. 2014-15, no disallowance could be made under section 14A if no exempt income was earned, rejecting the retrospective application of the amendment by The Finance Act, 2022. The decision emphasized that the said amendment should not have retrospective effect, resulting in the dismissal of the disallowance and favoring the appellant. en-us Tue, 15 Nov 2022 00:00:00 +0530 Sat, 19 Nov 2022 09:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430458 The Tribunal allowed the appeal, directing the Assessing Officer to delete the disallowance of Rs. 76,22,179 under section 14A. It held that for A.Y. 2014-15, no disallowance could be made under section 14A if no exempt income was earned, rejecting the retrospective application of the amendment by The Finance Act, 2022. The decision emphasized that the said amendment should not have retrospective effect, resulting in the dismissal of the disallowance and favoring the appellant. Case-Laws Income Tax Tue, 15 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430458