https://www.taxtmi.com/caselaws?id=438198 The Tribunal allowed the assessee's appeal challenging the disallowance of expenses under section 14A of the Income Tax Act. The Tribunal found that no disallowance was justified as the assessee had not claimed any relevant expenses in the return and had capitalized all expenses as fixed assets. The Tribunal also noted errors in the application of legal precedents by the lower authorities and inconsistencies in previous decisions. The Tribunal directed the Assessing Officer to verify investment amounts for calculating the disallowance and granted the appeal with specified directions. en-us Tue, 23 May 2023 00:00:00 +0530 Thu, 25 May 2023 09:13:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438198 The Tribunal allowed the assessee's appeal challenging the disallowance of expenses under section 14A of the Income Tax Act. The Tribunal found that no disallowance was justified as the assessee had not claimed any relevant expenses in the return and had capitalized all expenses as fixed assets. The Tribunal also noted errors in the application of legal precedents by the lower authorities and inconsistencies in previous decisions. The Tribunal directed the Assessing Officer to verify investment amounts for calculating the disallowance and granted the appeal with specified directions. Case-Laws Income Tax Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438198