https://www.taxtmi.com/caselaws?id=183759 The Tribunal remanded the matter back to the Assessing Officer for recomputing disallowances under section 14A read with Rule 8-D for assessment years 2008-09 and 2009-10. The Tribunal held that investments in companies of a strategic nature should not be considered for disallowance under section 14A, emphasizing that only investments made for earning exempt income are relevant. The Assessing Officer was directed to allow the assessee a sufficient opportunity to present their case before making a decision. Both appeals of the assessee were allowed for statistical purposes. en-us Wed, 21 Jan 2015 00:00:00 +0530 Tue, 21 Jun 2016 10:44:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183759 The Tribunal remanded the matter back to the Assessing Officer for recomputing disallowances under section 14A read with Rule 8-D for assessment years 2008-09 and 2009-10. The Tribunal held that investments in companies of a strategic nature should not be considered for disallowance under section 14A, emphasizing that only investments made for earning exempt income are relevant. The Assessing Officer was directed to allow the assessee a sufficient opportunity to present their case before making a decision. Both appeals of the assessee were allowed for statistical purposes. Case-Laws Income Tax Wed, 21 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183759