https://www.taxtmi.com/caselaws?id=214669 ITAT Delhi held that Rule 8D for disallowance under Section 14A is not applicable for AY 2007-08, as it applies from AY 2008-09 onwards per Godrej Boyce Manufacturing Co. Ltd. precedent. The assessee's self-disallowance of Rs.1,73,98,255 on proportionate basis of exempt dividend income to total income was deemed reasonable and justified. Revenue's appeal against CIT(A)'s restriction of disallowance was dismissed, with tribunal ruling in favor of assessee. en-us Thu, 28 Jun 2012 00:00:00 +0530 Sat, 05 Jul 2025 12:19:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214669 ITAT Delhi held that Rule 8D for disallowance under Section 14A is not applicable for AY 2007-08, as it applies from AY 2008-09 onwards per Godrej Boyce Manufacturing Co. Ltd. precedent. The assessee's self-disallowance of Rs.1,73,98,255 on proportionate basis of exempt dividend income to total income was deemed reasonable and justified. Revenue's appeal against CIT(A)'s restriction of disallowance was dismissed, with tribunal ruling in favor of assessee. Case-Laws Income Tax Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214669