https://www.taxtmi.com/caselaws?id=242968 The Appellate Tribunal allowed the appeal of the Non-Banking Finance Company regarding disallowance under section 14A of the Income Tax Act for the assessment year 2008-09. The Tribunal restricted the disallowance to Rs.7,21,927, overturning the higher amount calculated by the Assessing Officer and the CIT(A). The Tribunal considered the nature of expenses and income, finding the assessee's allocation of expenditure reasonable based on the proportion of bank interest income to dividend income. The decision was pronounced on January 22, 2014. en-us Wed, 22 Jan 2014 00:00:00 +0530 Fri, 24 Jan 2014 09:54:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242968 The Appellate Tribunal allowed the appeal of the Non-Banking Finance Company regarding disallowance under section 14A of the Income Tax Act for the assessment year 2008-09. The Tribunal restricted the disallowance to Rs.7,21,927, overturning the higher amount calculated by the Assessing Officer and the CIT(A). The Tribunal considered the nature of expenses and income, finding the assessee's allocation of expenditure reasonable based on the proportion of bank interest income to dividend income. The decision was pronounced on January 22, 2014. Case-Laws Income Tax Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242968