https://www.taxtmi.com/caselaws?id=244520 The Tribunal partly allowed the appeals for AY 2007-08 and AY 2008-09. It ruled in favor of the assessee regarding the additional depreciation under Section 32(1)(iia) for both years, allowing the balance 10% claim in the subsequent year. The disallowance under Section 14A was remitted back to the AO for fresh adjudication for both years, emphasizing that Rule 8D was not applicable for AY 2007-08 and instructing the AO to record necessary satisfaction before invoking Rule 8D for AY 2008-09. en-us Wed, 19 Feb 2014 00:00:00 +0530 Fri, 28 Feb 2014 07:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244520 The Tribunal partly allowed the appeals for AY 2007-08 and AY 2008-09. It ruled in favor of the assessee regarding the additional depreciation under Section 32(1)(iia) for both years, allowing the balance 10% claim in the subsequent year. The disallowance under Section 14A was remitted back to the AO for fresh adjudication for both years, emphasizing that Rule 8D was not applicable for AY 2007-08 and instructing the AO to record necessary satisfaction before invoking Rule 8D for AY 2008-09. Case-Laws Income Tax Wed, 19 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244520