https://www.taxtmi.com/caselaws?id=261802 The Tribunal ruled that Rule 8D of the Income-tax Rules, 1962 was not applicable for the assessment year 2006-07. It found the Assessing Officer's disallowance of interest expenditure under section 14A unjustified and upheld the Commissioner of Income Tax (Appeals) decision to restrict the disallowance to Rs. 1,00,000. The Tribunal dismissed appeals from both the Revenue and the assessee, confirming the correctness of the relief granted by the Commissioner of Income Tax (Appeals) and clarifying the application of Rule 8D. en-us Tue, 07 Jul 2015 00:00:00 +0530 Thu, 23 Jul 2015 07:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261802 The Tribunal ruled that Rule 8D of the Income-tax Rules, 1962 was not applicable for the assessment year 2006-07. It found the Assessing Officer's disallowance of interest expenditure under section 14A unjustified and upheld the Commissioner of Income Tax (Appeals) decision to restrict the disallowance to Rs. 1,00,000. The Tribunal dismissed appeals from both the Revenue and the assessee, confirming the correctness of the relief granted by the Commissioner of Income Tax (Appeals) and clarifying the application of Rule 8D. Case-Laws Income Tax Tue, 07 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261802