https://www.taxtmi.com/caselaws?id=308625 The court ruled in favor of the assessee regarding disallowances under Section 14A of the Income Tax Act for Assessment Years 2010-11, 2011-12, and 2014-15. It held that if no exempt income was claimed, Section 14A does not apply, aligning with previous decisions. The court emphasized that only expenses related to the earning of income should be allowed, and disallowances should not be made if no exempt income was earned. The appeals were dismissed based on the findings that the disallowances under Section 14A were unjustified in the absence of exempt income. en-us Fri, 26 Mar 2021 00:00:00 +0530 Mon, 10 Jul 2023 07:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308625 The court ruled in favor of the assessee regarding disallowances under Section 14A of the Income Tax Act for Assessment Years 2010-11, 2011-12, and 2014-15. It held that if no exempt income was claimed, Section 14A does not apply, aligning with previous decisions. The court emphasized that only expenses related to the earning of income should be allowed, and disallowances should not be made if no exempt income was earned. The appeals were dismissed based on the findings that the disallowances under Section 14A were unjustified in the absence of exempt income. Case-Laws Income Tax Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308625