https://www.taxtmi.com/caselaws?id=760608 The High Court dismissed the Revenue's appeal, affirming the ITAT's decision that disallowance under Section 14A of the Income Tax Act is inapplicable when no exempt income is present. The court ruled that the explanation to Section 14A, introduced by the Finance Act, 2022, applies prospectively and is irrelevant in this case. The court found no substantial question of law, thus upholding the decisions of the lower authorities and disposing of pending applications. en-us Wed, 16 Oct 2024 00:00:00 +0530 Sat, 18 Apr 2026 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760608 The High Court dismissed the Revenue's appeal, affirming the ITAT's decision that disallowance under Section 14A of the Income Tax Act is inapplicable when no exempt income is present. The court ruled that the explanation to Section 14A, introduced by the Finance Act, 2022, applies prospectively and is irrelevant in this case. The court found no substantial question of law, thus upholding the decisions of the lower authorities and disposing of pending applications. Case-Laws Income Tax Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760608