https://www.taxtmi.com/caselaws?id=215898 The Tribunal allowed the Revenue's appeal for statistical purposes and dismissed the assessee's cross objection related to disallowance under section 14A of the Income Tax Act for Assessment Year 2007-08. The Tribunal disagreed with the CIT(A)'s decision to direct the disallowance of 2% of the dividend income, remitting the matter back to the Assessing Officer for fresh consideration in line with a Bombay High Court case precedent. The appeal of the Revenue was allowed, and the cross objection of the assessee was dismissed. en-us Fri, 15 Jun 2012 00:00:00 +0530 Tue, 21 Aug 2012 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215898 The Tribunal allowed the Revenue's appeal for statistical purposes and dismissed the assessee's cross objection related to disallowance under section 14A of the Income Tax Act for Assessment Year 2007-08. The Tribunal disagreed with the CIT(A)'s decision to direct the disallowance of 2% of the dividend income, remitting the matter back to the Assessing Officer for fresh consideration in line with a Bombay High Court case precedent. The appeal of the Revenue was allowed, and the cross objection of the assessee was dismissed. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215898