https://www.taxtmi.com/caselaws?id=207914 The ITAT allowed the appeal, modifying the assessment order and holding that Rule 8D was not applicable for the assessment year 2007-08. Disallowance under section 14A should only be for expenses directly related to earning dividend income. The ITAT found that the assessee had already voluntarily disallowed a portion of expenses, thus deleting the AO's disallowance and restricting the total disallowance to the voluntarily declared amount of Rs.17,528. en-us Fri, 26 Nov 2010 00:00:00 +0530 Mon, 08 Jul 2013 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207914 The ITAT allowed the appeal, modifying the assessment order and holding that Rule 8D was not applicable for the assessment year 2007-08. Disallowance under section 14A should only be for expenses directly related to earning dividend income. The ITAT found that the assessee had already voluntarily disallowed a portion of expenses, thus deleting the AO's disallowance and restricting the total disallowance to the voluntarily declared amount of Rs.17,528. Case-Laws Income Tax Fri, 26 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207914