https://www.taxtmi.com/caselaws?id=270530 The Appellate Tribunal, ITAT Chennai, in a judgment dated 27th November 2015, resolved issues concerning disallowance under Section 14A with Rule 8D and addition under Section 2(22)(e). The Tribunal upheld the assessee's position, dismissing the Revenue's appeal and allowing the assessee's cross-objection. It directed the Assessing Officer to exclude investments in associate companies for disallowance calculation under Rule 8D(2)(iii) and ruled that Section 14A with Rule 8D did not apply to investments in sister concerns. The Tribunal found that the loan transactions between the assessee and its subsidiary did not fall under Section 2(22)(e) as they were strategic for business consolidation. en-us Fri, 27 Nov 2015 00:00:00 +0530 Sat, 09 Jan 2016 16:32:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270530 The Appellate Tribunal, ITAT Chennai, in a judgment dated 27th November 2015, resolved issues concerning disallowance under Section 14A with Rule 8D and addition under Section 2(22)(e). The Tribunal upheld the assessee's position, dismissing the Revenue's appeal and allowing the assessee's cross-objection. It directed the Assessing Officer to exclude investments in associate companies for disallowance calculation under Rule 8D(2)(iii) and ruled that Section 14A with Rule 8D did not apply to investments in sister concerns. The Tribunal found that the loan transactions between the assessee and its subsidiary did not fall under Section 2(22)(e) as they were strategic for business consolidation. Case-Laws Income Tax Fri, 27 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270530