https://www.taxtmi.com/caselaws?id=328575 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to re-compute the disallowance under Section 14A, limiting it to the amount of dividend earned during the year and verifying the dividend income. The Tribunal held that Rule 8D was not applicable for Assessment Year 2006-07 and that the disallowance should not exceed the exempt income. The order of the CIT (A) was set aside, and the issue was remanded to the AO for further verification. en-us Thu, 02 Jun 2016 00:00:00 +0530 Wed, 08 Jun 2016 19:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328575 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to re-compute the disallowance under Section 14A, limiting it to the amount of dividend earned during the year and verifying the dividend income. The Tribunal held that Rule 8D was not applicable for Assessment Year 2006-07 and that the disallowance should not exceed the exempt income. The order of the CIT (A) was set aside, and the issue was remanded to the AO for further verification. Case-Laws Income Tax Thu, 02 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328575