https://www.taxtmi.com/caselaws?id=180680 The appeal by the Revenue against the Ld. CIT(A)-16, Mumbai for A.Y. 2006-07 regarding the applicability of Sec. 14A r.w. Rule 8D resulted in the disallowance being restricted to Rs. 7,50,000, as opposed to the initial computation of Rs. 3,99,17,000 by the AO. The ITAT Mumbai upheld the decision, emphasizing the retrospective nature of Rule 8D and the relevance of prior assessment year decisions in determining disallowance amounts related to exempt income. en-us Mon, 01 Jul 2013 00:00:00 +0530 Thu, 31 Mar 2016 11:39:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180680 The appeal by the Revenue against the Ld. CIT(A)-16, Mumbai for A.Y. 2006-07 regarding the applicability of Sec. 14A r.w. Rule 8D resulted in the disallowance being restricted to Rs. 7,50,000, as opposed to the initial computation of Rs. 3,99,17,000 by the AO. The ITAT Mumbai upheld the decision, emphasizing the retrospective nature of Rule 8D and the relevance of prior assessment year decisions in determining disallowance amounts related to exempt income. Case-Laws Income Tax Mon, 01 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180680