https://www.taxtmi.com/caselaws?id=779624 ITAT AHMEDABAD - AT dismissed the Revenue's appeal, upholding CIT(A)'s finding that the Finance Act, 2022 amendment to s.14A (insertion of an explanation) took effect 01-04-2022 and cannot be treated as retrospectively applicable. Because no exempt income was earned or claimed in the relevant year, s.14A had no application. Consequently, disallowance under s.14A r.w.r. 8D was not warranted and the assessment for that year was confirmed in favour of the assessee. en-us Thu, 25 Sep 2025 00:00:00 +0530 Thu, 09 Oct 2025 08:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779624 ITAT AHMEDABAD - AT dismissed the Revenue's appeal, upholding CIT(A)'s finding that the Finance Act, 2022 amendment to s.14A (insertion of an explanation) took effect 01-04-2022 and cannot be treated as retrospectively applicable. Because no exempt income was earned or claimed in the relevant year, s.14A had no application. Consequently, disallowance under s.14A r.w.r. 8D was not warranted and the assessment for that year was confirmed in favour of the assessee. Case-Laws Income Tax Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779624