https://www.taxtmi.com/caselaws?id=260951 The Tribunal dismissed the Revenue's appeal regarding the deduction of commission payment to non-executive directors under section 40(a)(ia) of the IT Act, emphasizing that TDS was paid before the statutory filing date. The Tribunal also upheld the CIT(A)'s decision to restrict the disallowance under section 14A to 1% of exempt dividend income, as Rule 8D was deemed inapplicable for the relevant assessment year. Additionally, the Tribunal concurred that Rule 8D was not applicable for disallowance of expenses related to earning exempt dividend income, leading to the dismissal of the Revenue's appeal for both assessment years. en-us Wed, 29 Apr 2015 00:00:00 +0530 Tue, 16 Jun 2015 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260951 The Tribunal dismissed the Revenue's appeal regarding the deduction of commission payment to non-executive directors under section 40(a)(ia) of the IT Act, emphasizing that TDS was paid before the statutory filing date. The Tribunal also upheld the CIT(A)'s decision to restrict the disallowance under section 14A to 1% of exempt dividend income, as Rule 8D was deemed inapplicable for the relevant assessment year. Additionally, the Tribunal concurred that Rule 8D was not applicable for disallowance of expenses related to earning exempt dividend income, leading to the dismissal of the Revenue's appeal for both assessment years. Case-Laws Income Tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260951