https://www.taxtmi.com/caselaws?id=181031 The ITAT ruled in favor of the assessee, setting aside the disallowance under section 14A and directing the AO to restrict the disallowance to 2% of the total exempt income, in accordance with the judgment of the Hon'ble Bombay High Court. The decision highlighted the High Court's binding precedent on estimating disallowances for the relevant assessment year. en-us Fri, 06 Dec 2013 00:00:00 +0530 Wed, 07 Sep 2016 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181031 The ITAT ruled in favor of the assessee, setting aside the disallowance under section 14A and directing the AO to restrict the disallowance to 2% of the total exempt income, in accordance with the judgment of the Hon'ble Bombay High Court. The decision highlighted the High Court's binding precedent on estimating disallowances for the relevant assessment year. Case-Laws Income Tax Fri, 06 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181031