https://www.taxtmi.com/caselaws?id=183164 The Revenue's appeal against the Commissioner of Income Tax (Appeals) Chennai's order for the assessment year 2009-10, regarding disallowance under section 14A read with Rule 8D of the Act, was dismissed. The Commissioner upheld the deletion of the disallowance, stating that investments in group concerns were made as part of the assessee's business activities, making section 14A inapplicable. The investments in sister concerns were also deemed incapable of generating income, aligning with precedents, leading to the rejection of Revenue's grounds and the affirmation of the Commissioner's decision. en-us Wed, 27 Nov 2013 00:00:00 +0530 Tue, 13 Sep 2016 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183164 The Revenue's appeal against the Commissioner of Income Tax (Appeals) Chennai's order for the assessment year 2009-10, regarding disallowance under section 14A read with Rule 8D of the Act, was dismissed. The Commissioner upheld the deletion of the disallowance, stating that investments in group concerns were made as part of the assessee's business activities, making section 14A inapplicable. The investments in sister concerns were also deemed incapable of generating income, aligning with precedents, leading to the rejection of Revenue's grounds and the affirmation of the Commissioner's decision. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183164