https://www.taxtmi.com/caselaws?id=169552 The Tribunal upheld the Commissioner (Appeals)'s decision, dismissing the Revenue's appeal regarding the disallowance under section 14A of the Income Tax Act for the assessment year 2007-08. The Tribunal concurred that Rule 8D was not applicable for that year and approved the 10% disallowance of dividend income as a reasonable expense. The Tribunal emphasized the validity of the High Court's judgment and rejected the Revenue's challenge, noting the pending Special Leave Petition before the Apex Court. en-us Fri, 22 Feb 2013 00:00:00 +0530 Sat, 25 Apr 2015 19:30:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169552 The Tribunal upheld the Commissioner (Appeals)'s decision, dismissing the Revenue's appeal regarding the disallowance under section 14A of the Income Tax Act for the assessment year 2007-08. The Tribunal concurred that Rule 8D was not applicable for that year and approved the 10% disallowance of dividend income as a reasonable expense. The Tribunal emphasized the validity of the High Court's judgment and rejected the Revenue's challenge, noting the pending Special Leave Petition before the Apex Court. Case-Laws Income Tax Fri, 22 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169552