https://www.taxtmi.com/caselaws?id=756846 Section 14A disallowance was held unsustainable where the assessee earned no exempt income during the relevant assessment year, following precedents that no disallowance can arise in the absence of exempt income. The amendment making such disallowance mandatory from 01.04.2022 was treated as prospective and not applicable to the year in question, so the deletion of the disallowance was upheld. en-us Thu, 08 Aug 2024 00:00:00 +0530 Sat, 10 Aug 2024 09:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756846 Section 14A disallowance was held unsustainable where the assessee earned no exempt income during the relevant assessment year, following precedents that no disallowance can arise in the absence of exempt income. The amendment making such disallowance mandatory from 01.04.2022 was treated as prospective and not applicable to the year in question, so the deletion of the disallowance was upheld. Case-Laws Income Tax Thu, 08 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756846