https://www.taxtmi.com/caselaws?id=182884 The Tribunal upheld the ld. CIT(A)'s decision to restrict the disallowance to 2% of the exempt income, emphasizing that Rule 8D was not applicable for the relevant assessment year. The judgment clarified the application of Rule 8D for calculating expenditure related to earning exempt income under section 14A, emphasizing the importance of considering court rulings and factual circumstances. The Revenue's appeal was dismissed, and the Tribunal affirmed the order of the ld. CIT(A) based on the reasoning provided in the judgment. en-us Mon, 05 Aug 2013 00:00:00 +0530 Tue, 28 Feb 2017 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182884 The Tribunal upheld the ld. CIT(A)'s decision to restrict the disallowance to 2% of the exempt income, emphasizing that Rule 8D was not applicable for the relevant assessment year. The judgment clarified the application of Rule 8D for calculating expenditure related to earning exempt income under section 14A, emphasizing the importance of considering court rulings and factual circumstances. The Revenue's appeal was dismissed, and the Tribunal affirmed the order of the ld. CIT(A) based on the reasoning provided in the judgment. Case-Laws Income Tax Mon, 05 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182884