https://www.taxtmi.com/caselaws?id=237744 The High Court upheld the Tribunal's decision to recompute the disallowance under section 14A without rule 8D for the assessment year 2004-05, citing the judgment in Godrej & Boyce Manufacturing Company Ltd. The Court also affirmed the classification of income from the sale of land as long term capital gains, emphasizing the rule of consistency in tax assessments and dismissing the revenue's arguments regarding the characterization of income and utilization of interest-bearing funds for tax-free income. en-us Fri, 01 Mar 2013 00:00:00 +0530 Mon, 07 Oct 2013 08:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237744 The High Court upheld the Tribunal's decision to recompute the disallowance under section 14A without rule 8D for the assessment year 2004-05, citing the judgment in Godrej & Boyce Manufacturing Company Ltd. The Court also affirmed the classification of income from the sale of land as long term capital gains, emphasizing the rule of consistency in tax assessments and dismissing the revenue's arguments regarding the characterization of income and utilization of interest-bearing funds for tax-free income. Case-Laws Income Tax Fri, 01 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237744