https://www.taxtmi.com/caselaws?id=464020 HC held that no disallowance under section 14A is warranted where the taxpayer did not earn any exempt income during the relevant year. The court reiterated that s.14A targets expenses incurred to claim deductions against exempt income while enjoying tax exemption; absent actual exempt income, apportionment and disallowance are not required. Decision rendered in favour of the assessee. en-us Thu, 03 Jun 2021 00:00:00 +0530 Fri, 26 Sep 2025 20:09:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464020 HC held that no disallowance under section 14A is warranted where the taxpayer did not earn any exempt income during the relevant year. The court reiterated that s.14A targets expenses incurred to claim deductions against exempt income while enjoying tax exemption; absent actual exempt income, apportionment and disallowance are not required. Decision rendered in favour of the assessee. Case-Laws Income Tax Thu, 03 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464020