TMI Blog2012 (5) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd.( 2009 - TMI - 35238 - PUNJAB AND HARYANA HIGH COURT ) stating disallowance under Section 14A requires finding of incurring of expenditure where it is found that for earning exempted income no expenditure has been incurred, disallowance under Section 14A cannot stand - against the revenue. - ITA No. 386 of 2011 (O&M) - - - Dated:- 2-4-2012 - MR. JUSTICE M.M. KUMAR, MR. JUSTICE ALOK SING ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITAT was legally justified in deleting the disallowance of Rs.10,46,067/- made under Section 14A of the Income-tax Act, 1961 by holding that a clear nexus has not been established when there is no such requirement to prove the nexus as per the provisions of law? 2. We have heard learned counsel for the revenueappellant at some length and are of the view that the matter is no longer res integra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income no expenditure has been incurred, disallowance under Section 14A cannot stand. In the present case finding on this aspect, against the revenue, is not shown to be perverse. Consequently, disallowance is not permissible. 3. For coming to the aforementioned conclusion, the Division Bench has placed reliance on the earlier view taken in the case of Commissioner of Income Tax Chandigarh II v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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