https://www.taxtmi.com/caselaws?id=309136 The Tribunal allowed the appellant's appeal, directing the deletion of the disallowance amount under section 14A for the Assessment Year 2010-11. The Tribunal emphasized that the provision should not apply when no exempt income is received or receivable during the relevant year, in line with the decision in Cheminvest Ltd. vs CIT-IV. The Tribunal found the disallowance under section 14A unsustainable as the appellant did not derive any exempt income in the relevant year, leading to the deletion of the disallowance amount and ruling in favor of the appellant. en-us Wed, 25 Oct 2017 00:00:00 +0530 Sat, 12 Aug 2023 08:32:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309136 The Tribunal allowed the appellant's appeal, directing the deletion of the disallowance amount under section 14A for the Assessment Year 2010-11. The Tribunal emphasized that the provision should not apply when no exempt income is received or receivable during the relevant year, in line with the decision in Cheminvest Ltd. vs CIT-IV. The Tribunal found the disallowance under section 14A unsustainable as the appellant did not derive any exempt income in the relevant year, leading to the deletion of the disallowance amount and ruling in favor of the appellant. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309136