https://www.taxtmi.com/caselaws?id=442486 The Tribunal allowed the appeal filed by the assessee, overturning the CIT(A)'s decision to uphold the addition made by the AO under section 14A of the Act. The Tribunal held that only investments generating exempt income should be considered for disallowance under section 14A, in line with a judgment of the Hon'ble Delhi High Court. It emphasized that the disallowance should be based on investments that have actually generated exempt income and deleted the Rs. 4,69,055/- disallowance initially imposed by the AO. en-us Wed, 30 Aug 2023 00:00:00 +0530 Sat, 02 Sep 2023 07:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442486 The Tribunal allowed the appeal filed by the assessee, overturning the CIT(A)'s decision to uphold the addition made by the AO under section 14A of the Act. The Tribunal held that only investments generating exempt income should be considered for disallowance under section 14A, in line with a judgment of the Hon'ble Delhi High Court. It emphasized that the disallowance should be based on investments that have actually generated exempt income and deleted the Rs. 4,69,055/- disallowance initially imposed by the AO. Case-Laws Income Tax Wed, 30 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442486