https://www.taxtmi.com/caselaws?id=240409 ITAT MUMBAI (AT) held that Rule 8D applies from AY 2008-09 and disallowance under s.14A must be computed under Rule 8D; the assessee's attribution of expenses to tax-free income and a 0.5% disallowance for non-interest expenses were rejected, decision against the assessee. For book profits under s.115JB, the s.14A disallowance forms part of expenses under Explanation (1)(f) to s.115JB(2), decision against the assessee. On rebate under s.88E, the tribunal directed allowance subject to s.87(2) provisions, decision against Revenue. en-us Wed, 24 Jul 2013 00:00:00 +0530 Thu, 25 Sep 2025 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240409 ITAT MUMBAI (AT) held that Rule 8D applies from AY 2008-09 and disallowance under s.14A must be computed under Rule 8D; the assessee's attribution of expenses to tax-free income and a 0.5% disallowance for non-interest expenses were rejected, decision against the assessee. For book profits under s.115JB, the s.14A disallowance forms part of expenses under Explanation (1)(f) to s.115JB(2), decision against the assessee. On rebate under s.88E, the tribunal directed allowance subject to s.87(2) provisions, decision against Revenue. Case-Laws Income Tax Wed, 24 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240409