https://www.taxtmi.com/caselaws?id=752115 MP HC dismissed revenue appeal in assessment year 2013-14 case. Court upheld ITAT's deletion of Section 14A disallowance where assessee claimed no exempt income, following Chivenwest precedent that Section 14A doesn't apply without exempt income received. Court rejected revenue's argument about 2022 Finance Act amendment and CBDT Circular, ruling amendment inapplicable to 2013-14 assessment. Regarding disallowance of operating expenses, court found assessing officer failed to consider submitted documents before making additions, affirming CIT(A) and ITAT orders deleting the disallowances as properly reasoned. en-us Mon, 29 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752115 MP HC dismissed revenue appeal in assessment year 2013-14 case. Court upheld ITAT's deletion of Section 14A disallowance where assessee claimed no exempt income, following Chivenwest precedent that Section 14A doesn't apply without exempt income received. Court rejected revenue's argument about 2022 Finance Act amendment and CBDT Circular, ruling amendment inapplicable to 2013-14 assessment. Regarding disallowance of operating expenses, court found assessing officer failed to consider submitted documents before making additions, affirming CIT(A) and ITAT orders deleting the disallowances as properly reasoned. Case-Laws Income Tax Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752115