https://www.taxtmi.com/caselaws?id=431421 The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal regarding the disallowance under Section 14A of the Income Tax Act for AY 2015-16. The ITAT agreed that no disallowance was justified as no exempt income was earned during the relevant year. The decision was based on the principle of apportionment of expenses and supported by relevant case law, leading to the rejection of the Revenue's appeal. en-us Thu, 24 Nov 2022 00:00:00 +0530 Tue, 13 Dec 2022 08:26:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431421 The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal regarding the disallowance under Section 14A of the Income Tax Act for AY 2015-16. The ITAT agreed that no disallowance was justified as no exempt income was earned during the relevant year. The decision was based on the principle of apportionment of expenses and supported by relevant case law, leading to the rejection of the Revenue's appeal. Case-Laws Income Tax Thu, 24 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431421