https://www.taxtmi.com/caselaws?id=762879 The ITAT allowed the appeal, ruling that the PCIT's invocation of section 263 was invalid. The Tribunal found that the AO's assessment under section 143(3) was conducted with due diligence and that no exempt income was earned, making section 14A inapplicable. Consequently, no disallowance of expenses under section 14A was warranted, and the revision order was set aside. en-us Thu, 28 Nov 2024 00:00:00 +0530 Mon, 09 Dec 2024 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762879 The ITAT allowed the appeal, ruling that the PCIT's invocation of section 263 was invalid. The Tribunal found that the AO's assessment under section 143(3) was conducted with due diligence and that no exempt income was earned, making section 14A inapplicable. Consequently, no disallowance of expenses under section 14A was warranted, and the revision order was set aside. Case-Laws Income Tax Thu, 28 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762879