https://www.taxtmi.com/caselaws?id=448399 The ITAT Delhi dismissed the revenue's appeals in ITA Nos. 5102/Del/2019 and 5104/Del/2019 for AY 2014-15. The court upheld the CIT(A)'s decision to delete the disallowance of expenses under section 14A, as no exempt income was earned by the assessee. Additionally, the ITAT affirmed the deletion of disallowed interest under section 36(1)(iii), finding that most advances were for business purposes. The ITAT relied on precedents from the Hon'ble Jurisdictional High Court and the SC, supporting the CIT(A)'s rulings in favor of the assessee. en-us Tue, 16 Jan 2024 00:00:00 +0530 Wed, 17 Jan 2024 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448399 The ITAT Delhi dismissed the revenue's appeals in ITA Nos. 5102/Del/2019 and 5104/Del/2019 for AY 2014-15. The court upheld the CIT(A)'s decision to delete the disallowance of expenses under section 14A, as no exempt income was earned by the assessee. Additionally, the ITAT affirmed the deletion of disallowed interest under section 36(1)(iii), finding that most advances were for business purposes. The ITAT relied on precedents from the Hon'ble Jurisdictional High Court and the SC, supporting the CIT(A)'s rulings in favor of the assessee. Case-Laws Income Tax Tue, 16 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448399