https://www.taxtmi.com/caselaws?id=181090 The Appellate Tribunal upheld the decision of the CIT(A)-6, Ahmedabad, confirming the disallowance of expenses under section 14A of the IT Act for the assessment year 2008-09. The Tribunal emphasized the applicability of Rule 8D in determining the disallowance due to substantial exempt income, rejecting the appellant's argument against the nexus between borrowed funds and non-taxable investments. The Tribunal found no errors in the disallowance calculation and dismissed the appellant's appeal, citing the clarity of Rule 8D's application from the relevant assessment year. en-us Fri, 22 Jun 2012 00:00:00 +0530 Sat, 17 Jun 2017 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181090 The Appellate Tribunal upheld the decision of the CIT(A)-6, Ahmedabad, confirming the disallowance of expenses under section 14A of the IT Act for the assessment year 2008-09. The Tribunal emphasized the applicability of Rule 8D in determining the disallowance due to substantial exempt income, rejecting the appellant's argument against the nexus between borrowed funds and non-taxable investments. The Tribunal found no errors in the disallowance calculation and dismissed the appellant's appeal, citing the clarity of Rule 8D's application from the relevant assessment year. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181090