https://www.taxtmi.com/caselaws?id=236330 The appeal filed by the Revenue was partly allowed for statistical purposes. The Tribunal upheld the Ld. CIT(A)'s decision to recompute the disallowance u/s. 14A without applying Rule 8D, following a Bombay High Court decision. The Tribunal also dismissed the disallowance of interest expenses and depreciation on investment in shares and securities, citing previous Tribunal orders. The disallowance made u/s. 36(1)(vii) was deleted based on a recent Supreme Court judgment. Additionally, the issue of additional disallowance in the computation of book profit was remitted back to the AO for further consideration. en-us Tue, 09 Jul 2013 00:00:00 +0530 Fri, 23 Aug 2013 07:29:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236330 The appeal filed by the Revenue was partly allowed for statistical purposes. The Tribunal upheld the Ld. CIT(A)'s decision to recompute the disallowance u/s. 14A without applying Rule 8D, following a Bombay High Court decision. The Tribunal also dismissed the disallowance of interest expenses and depreciation on investment in shares and securities, citing previous Tribunal orders. The disallowance made u/s. 36(1)(vii) was deleted based on a recent Supreme Court judgment. Additionally, the issue of additional disallowance in the computation of book profit was remitted back to the AO for further consideration. Case-Laws Income Tax Tue, 09 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236330