https://www.taxtmi.com/caselaws?id=447673 The HC upheld the ITAT's decision, dismissing the revenue's appeal concerning the Assessment Year 2009-10. The court confirmed that the disallowance under Section 14A cannot exceed the exempt income, aligning with a previous judgment. Additionally, the Tribunal's approach to net off interest income with interest expenditure was deemed appropriate. Consequently, the appeal and related applications were closed, with no further legal issues warranting consideration. en-us Fri, 22 Dec 2023 00:00:00 +0530 Tue, 02 Jan 2024 09:12:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447673 The HC upheld the ITAT's decision, dismissing the revenue's appeal concerning the Assessment Year 2009-10. The court confirmed that the disallowance under Section 14A cannot exceed the exempt income, aligning with a previous judgment. Additionally, the Tribunal's approach to net off interest income with interest expenditure was deemed appropriate. Consequently, the appeal and related applications were closed, with no further legal issues warranting consideration. Case-Laws Income Tax Fri, 22 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447673