https://www.taxtmi.com/caselaws?id=764303 The Tribunal ruled in favor of the assessee, ordering the deletion of the Rs. 1 Crore addition as an unexplained receipt, as it was a refund of a security deposit substantiated by documentary evidence. The Tribunal also deleted the disallowance of Rs. 16,74,712/- under Section 14A, as no exempt income was earned during the relevant assessment year. The decision emphasized the necessity for tax authorities to consider all provided evidence and upheld the principle that disallowance under Section 14A is not applicable if no exempt income is earned. en-us Wed, 16 Oct 2024 00:00:00 +0530 Tue, 07 Jan 2025 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764303 The Tribunal ruled in favor of the assessee, ordering the deletion of the Rs. 1 Crore addition as an unexplained receipt, as it was a refund of a security deposit substantiated by documentary evidence. The Tribunal also deleted the disallowance of Rs. 16,74,712/- under Section 14A, as no exempt income was earned during the relevant assessment year. The decision emphasized the necessity for tax authorities to consider all provided evidence and upheld the principle that disallowance under Section 14A is not applicable if no exempt income is earned. Case-Laws Income Tax Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764303