https://www.taxtmi.com/caselaws?id=236164 The Tribunal partially allowed the Revenue's appeal by confirming a portion of the disallowance under Section 14A read with Rule 8D, reducing it from Rs. 1,40,69,402/- to an amount consistent with the Tribunal's findings on the proportionate allocation of interest expenditure. The Tribunal held that Section 14A applies to shares held as stock-in-trade and upheld the prescribed allocation ratio for indirect expenditure under Rule 8D(2)(iii). The appeal was thus partly allowed, granting relief to the assessee while affirming the application of Section 14A and Rule 8D to shares held as stock-in-trade. en-us Wed, 17 Jul 2013 00:00:00 +0530 Fri, 01 Apr 2016 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236164 The Tribunal partially allowed the Revenue's appeal by confirming a portion of the disallowance under Section 14A read with Rule 8D, reducing it from Rs. 1,40,69,402/- to an amount consistent with the Tribunal's findings on the proportionate allocation of interest expenditure. The Tribunal held that Section 14A applies to shares held as stock-in-trade and upheld the prescribed allocation ratio for indirect expenditure under Rule 8D(2)(iii). The appeal was thus partly allowed, granting relief to the assessee while affirming the application of Section 14A and Rule 8D to shares held as stock-in-trade. Case-Laws Income Tax Wed, 17 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236164