https://www.taxtmi.com/caselaws?id=182576 The case involved a dispute over the disallowance of managerial expenses under section 14A of the Income Tax Act for earning exempt dividend income. The Assessing Officer disallowed a certain amount, which was upheld by the Ld. Commissioner of Income Tax (Appeals) applying Rule 8D. However, the ITAT Delhi held that Rule 8D could not be applied for the relevant assessment year and reduced the disallowance amount to Rs. 30,000. As a result, the appeal by the assessee was partly allowed, reducing the disallowance to Rs. 30,000. en-us Tue, 26 Oct 2010 00:00:00 +0530 Fri, 13 May 2016 15:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182576 The case involved a dispute over the disallowance of managerial expenses under section 14A of the Income Tax Act for earning exempt dividend income. The Assessing Officer disallowed a certain amount, which was upheld by the Ld. Commissioner of Income Tax (Appeals) applying Rule 8D. However, the ITAT Delhi held that Rule 8D could not be applied for the relevant assessment year and reduced the disallowance amount to Rs. 30,000. As a result, the appeal by the assessee was partly allowed, reducing the disallowance to Rs. 30,000. Case-Laws Income Tax Tue, 26 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182576