https://www.taxtmi.com/caselaws?id=252521 The Tribunal upheld the invocation of Rule 8D for computing disallowance under Section 14A(1) of the Income Tax Act, rejecting the exclusion of shares held as stock-in-trade from the computation. The Tribunal emphasized the standardized nature of Rule 8D and the requirement for the assessee to justify its claims. The matter was remanded to the Assessing Officer for further consideration, limiting the disallowance to the amount of expenditure determined by the A.O. Both the Assessee and the Revenue saw partial success in their appeals. en-us Fri, 17 Oct 2014 00:00:00 +0530 Tue, 28 Oct 2014 07:32:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252521 The Tribunal upheld the invocation of Rule 8D for computing disallowance under Section 14A(1) of the Income Tax Act, rejecting the exclusion of shares held as stock-in-trade from the computation. The Tribunal emphasized the standardized nature of Rule 8D and the requirement for the assessee to justify its claims. The matter was remanded to the Assessing Officer for further consideration, limiting the disallowance to the amount of expenditure determined by the A.O. Both the Assessee and the Revenue saw partial success in their appeals. Case-Laws Income Tax Fri, 17 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252521