https://www.taxtmi.com/caselaws?id=249865 The Tribunal allowed cross-appeals related to the disallowance under Section 14A of the Income Tax Act, 1961, for the assessment year 2007-08. The Tribunal directed the Assessing Officer to reevaluate the disallowance without applying Rule 8D, following a decision by the Bombay High Court. Regarding the assessment of income from the sale of shares, the Tribunal set aside the issue for fresh examination by the AO based on additional evidence presented by the assessee, emphasizing the importance of considering specific facts each year. Both parties' appeals were treated as allowed for statistical purposes. en-us Fri, 18 Jul 2014 00:00:00 +0530 Sun, 27 Jul 2014 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249865 The Tribunal allowed cross-appeals related to the disallowance under Section 14A of the Income Tax Act, 1961, for the assessment year 2007-08. The Tribunal directed the Assessing Officer to reevaluate the disallowance without applying Rule 8D, following a decision by the Bombay High Court. Regarding the assessment of income from the sale of shares, the Tribunal set aside the issue for fresh examination by the AO based on additional evidence presented by the assessee, emphasizing the importance of considering specific facts each year. Both parties' appeals were treated as allowed for statistical purposes. Case-Laws Income Tax Fri, 18 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249865