https://www.taxtmi.com/caselaws?id=234953 The Tribunal upheld the Ld CIT(A)'s decision to use net interest expense for disallowance under Rule 8D(2)(ii) instead of gross interest expense, finding it reflective of the actual financial burden. Additionally, the Tribunal supported the inclusion of the Section 88E rebate in computing tax under Section 115JB to prevent excessive tax liability, dismissing the revenue's appeal. The decisions aligned with legal principles and precedent, ensuring a fair tax assessment for the assessee. en-us Fri, 26 Apr 2013 00:00:00 +0530 Fri, 05 Jul 2013 06:46:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234953 The Tribunal upheld the Ld CIT(A)'s decision to use net interest expense for disallowance under Rule 8D(2)(ii) instead of gross interest expense, finding it reflective of the actual financial burden. Additionally, the Tribunal supported the inclusion of the Section 88E rebate in computing tax under Section 115JB to prevent excessive tax liability, dismissing the revenue's appeal. The decisions aligned with legal principles and precedent, ensuring a fair tax assessment for the assessee. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234953