https://www.taxtmi.com/caselaws?id=772699 ITAT Bangalore ruled in favor of the assessee regarding disallowance under Section 14A. The tribunal held that where no exempt income was earned during the year, no disallowance under Section 14A can be made. The decision was supported by multiple HC precedents including Delhi HC and Karnataka HC rulings. The tribunal also noted that the explanation introduced under Section 14A effective from April 1, 2022, is prospective in nature as held by Gauhati HC. The tribunal reversed lower authorities' orders and directed the AO to delete the Section 14A disallowance. en-us Mon, 09 Jun 2025 00:00:00 +0530 Tue, 14 Apr 2026 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772699 ITAT Bangalore ruled in favor of the assessee regarding disallowance under Section 14A. The tribunal held that where no exempt income was earned during the year, no disallowance under Section 14A can be made. The decision was supported by multiple HC precedents including Delhi HC and Karnataka HC rulings. The tribunal also noted that the explanation introduced under Section 14A effective from April 1, 2022, is prospective in nature as held by Gauhati HC. The tribunal reversed lower authorities' orders and directed the AO to delete the Section 14A disallowance. Case-Laws Income Tax Mon, 09 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772699