https://www.taxtmi.com/caselaws?id=440570 The Tribunal upheld the CIT(A)'s decisions in a case involving disallowance under Section 14A, where the disallowance was restricted to the amount of exempt income earned. Additionally, additions under Sections 68 and 69C were deleted due to lack of specific evidence against the assessee and procedural lapses, emphasizing the requirement for concrete evidence rather than suspicion to justify such additions. The Tribunal dismissed the Revenue's appeal, affirming the decisions made at the lower levels. en-us Tue, 20 Dec 2022 00:00:00 +0530 Thu, 20 Jul 2023 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440570 The Tribunal upheld the CIT(A)'s decisions in a case involving disallowance under Section 14A, where the disallowance was restricted to the amount of exempt income earned. Additionally, additions under Sections 68 and 69C were deleted due to lack of specific evidence against the assessee and procedural lapses, emphasizing the requirement for concrete evidence rather than suspicion to justify such additions. The Tribunal dismissed the Revenue's appeal, affirming the decisions made at the lower levels. Case-Laws Income Tax Tue, 20 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440570