https://www.taxtmi.com/caselaws?id=464383 Disallowance under section 14A read with Rule 8D was not sustainable because no exempt dividend income was earned during the year. The Tribunal accepted the appellate finding that, in the absence of exempt income, section 14A could not be invoked merely on the basis of investments, and the Revenue did not show any infirmity in that conclusion. The deletion of the disallowance was therefore upheld in favour of the assessee. en-us Wed, 11 May 2022 00:00:00 +0530 Mon, 27 Oct 2025 20:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464383 Disallowance under section 14A read with Rule 8D was not sustainable because no exempt dividend income was earned during the year. The Tribunal accepted the appellate finding that, in the absence of exempt income, section 14A could not be invoked merely on the basis of investments, and the Revenue did not show any infirmity in that conclusion. The deletion of the disallowance was therefore upheld in favour of the assessee. Case-Laws Income Tax Wed, 11 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464383