https://www.taxtmi.com/caselaws?id=177575 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer to delete the disallowance of expenses under Section 14A amounting to Rs. 45,72,144/- as it was already deleted by the Tribunal. The ITAT held that expenses attributable to investment activity should be considered as expenses incurred for earning dividend income, and the disallowance should be calculated based on Rule 8D. Additionally, the ITAT upheld the application of Rule 8D for the assessment year 2005-06, rejecting the appellant's argument that the rule is not retrospective. en-us Thu, 09 Aug 2012 00:00:00 +0530 Tue, 12 Jan 2016 18:38:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177575 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer to delete the disallowance of expenses under Section 14A amounting to Rs. 45,72,144/- as it was already deleted by the Tribunal. The ITAT held that expenses attributable to investment activity should be considered as expenses incurred for earning dividend income, and the disallowance should be calculated based on Rule 8D. Additionally, the ITAT upheld the application of Rule 8D for the assessment year 2005-06, rejecting the appellant's argument that the rule is not retrospective. Case-Laws Income Tax Thu, 09 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177575