https://www.taxtmi.com/caselaws?id=770892 Where no exempt income was earned during the relevant assessment year, disallowance of expenditure under section 14A could not be sustained because no expenditure could be attributed to earning exempt income. The first appellate authority noted that section 14A had no application on these facts, and the ITAT upheld that view. The Revenue's challenge was rejected, and the disallowance was held unsustainable. en-us Wed, 30 Apr 2025 00:00:00 +0530 Sat, 17 May 2025 08:39:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770892 Where no exempt income was earned during the relevant assessment year, disallowance of expenditure under section 14A could not be sustained because no expenditure could be attributed to earning exempt income. The first appellate authority noted that section 14A had no application on these facts, and the ITAT upheld that view. The Revenue's challenge was rejected, and the disallowance was held unsustainable. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770892