https://www.taxtmi.com/caselaws?id=470187 For Assessment Year 2018-19, the Finance Act 2022 explanation to section 14A, effective from 1 April 2022, was treated as prospective and inapplicable. Where no exempt income was earned during the relevant previous year, disallowance of expenditure under section 14A read with rule 8D was unsustainable. The revisionary direction requiring that disallowance was consequently set aside. en-us Tue, 18 Mar 2025 00:00:00 +0530 Sat, 18 Jul 2026 20:46:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470187 For Assessment Year 2018-19, the Finance Act 2022 explanation to section 14A, effective from 1 April 2022, was treated as prospective and inapplicable. Where no exempt income was earned during the relevant previous year, disallowance of expenditure under section 14A read with rule 8D was unsustainable. The revisionary direction requiring that disallowance was consequently set aside. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470187