https://www.taxtmi.com/caselaws?id=328147 The Tribunal found the Assessing Officer's application of Rule 8D for disallowance under Section 14A of the Income Tax Act flawed. The Tribunal held that interest on specific borrowings and investments generating taxable income should be excluded from the disallowance calculation. The issue of write-off of advances to subsidiary companies was remitted to the AO for reconsideration. The appeal was partly allowed for statistical purposes. en-us Wed, 06 Apr 2016 00:00:00 +0530 Fri, 27 May 2016 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328147 The Tribunal found the Assessing Officer's application of Rule 8D for disallowance under Section 14A of the Income Tax Act flawed. The Tribunal held that interest on specific borrowings and investments generating taxable income should be excluded from the disallowance calculation. The issue of write-off of advances to subsidiary companies was remitted to the AO for reconsideration. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328147