https://www.taxtmi.com/caselaws?id=238621 The Tribunal allowed the Assessee's appeal against the disallowance made under Section 14A of the Income Tax Act for A.Y. 2007-08. The Tribunal held that no disallowance was justified as investments were made from own funds, not borrowed funds, and directed the deletion of the disallowance. The retrospective invocation of Rule 8D of the Income Tax Rules was rejected, and the ground for the addition of short credit of interest income was dismissed. The appeal was partly allowed, with the Tribunal ruling in favor of the Assessee on the disallowance issue. en-us Fri, 20 Sep 2013 00:00:00 +0530 Wed, 23 Oct 2013 22:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238621 The Tribunal allowed the Assessee's appeal against the disallowance made under Section 14A of the Income Tax Act for A.Y. 2007-08. The Tribunal held that no disallowance was justified as investments were made from own funds, not borrowed funds, and directed the deletion of the disallowance. The retrospective invocation of Rule 8D of the Income Tax Rules was rejected, and the ground for the addition of short credit of interest income was dismissed. The appeal was partly allowed, with the Tribunal ruling in favor of the Assessee on the disallowance issue. Case-Laws Income Tax Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238621