https://www.taxtmi.com/caselaws?id=239186 The Tribunal upheld the disallowance of Rs.19,56,521 under section 14A read with Rule 8D for the assessment year 2008-09. The assessee's appeal, contesting the disallowance related to tax-free dividend income and unquoted shares, was dismissed. The Tribunal affirmed the AO's decision, emphasizing the applicability of Rule 8D for determining disallowances and the onus on the assessee to prove expenses incurred for earning exempt income. The disallowance was upheld based on the provisions of section 14A and relevant judicial precedents, with the Tribunal maintaining the CIT(A)'s decision. en-us Wed, 28 Aug 2013 00:00:00 +0530 Fri, 08 Nov 2013 07:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239186 The Tribunal upheld the disallowance of Rs.19,56,521 under section 14A read with Rule 8D for the assessment year 2008-09. The assessee's appeal, contesting the disallowance related to tax-free dividend income and unquoted shares, was dismissed. The Tribunal affirmed the AO's decision, emphasizing the applicability of Rule 8D for determining disallowances and the onus on the assessee to prove expenses incurred for earning exempt income. The disallowance was upheld based on the provisions of section 14A and relevant judicial precedents, with the Tribunal maintaining the CIT(A)'s decision. Case-Laws Income Tax Wed, 28 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239186