https://www.taxtmi.com/caselaws?id=264675 The Tribunal affirmed the CIT(A)'s decision in dismissing the Revenue's appeals for assessment years 2005-06, 2004-05, and 2007-08. It held that Rule 8D was not applicable for the years under consideration, citing a judgment of the Bombay High Court. The Assessing Officer's disallowances under section 14A were found to be reasonable, with no errors in the estimation of expenses related to earning exempt income. The Tribunal emphasized the lack of evidence showing the original estimations as unreasonable, leading to the dismissal of the Revenue's appeals. en-us Mon, 31 Aug 2015 00:00:00 +0530 Wed, 30 Sep 2015 06:23:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264675 The Tribunal affirmed the CIT(A)'s decision in dismissing the Revenue's appeals for assessment years 2005-06, 2004-05, and 2007-08. It held that Rule 8D was not applicable for the years under consideration, citing a judgment of the Bombay High Court. The Assessing Officer's disallowances under section 14A were found to be reasonable, with no errors in the estimation of expenses related to earning exempt income. The Tribunal emphasized the lack of evidence showing the original estimations as unreasonable, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264675