https://www.taxtmi.com/caselaws?id=259853 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of Rs. 9,52,14,000 on account of diminution in the value of fertilizer bonds, considering it as a business loss. Additionally, the Tribunal directed the AO to make disallowance under Section 14A read with Rule 8D(iii) for A.Y. 2008-09, while allowing set-off for the suomoto disallowance already made by the assessee. The Revenue's appeal was dismissed, and the assessee's appeal was allowed. en-us Wed, 20 May 2015 00:00:00 +0530 Sat, 23 May 2015 19:06:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259853 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of Rs. 9,52,14,000 on account of diminution in the value of fertilizer bonds, considering it as a business loss. Additionally, the Tribunal directed the AO to make disallowance under Section 14A read with Rule 8D(iii) for A.Y. 2008-09, while allowing set-off for the suomoto disallowance already made by the assessee. The Revenue's appeal was dismissed, and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259853