https://www.taxtmi.com/caselaws?id=185127 The ITAT Mumbai allowed the appeal filed by the assessee concerning the disallowance of expenditure under Sec. 14A of the Act. The ITAT held that only investments generating dividend income should be considered for disallowance, and the disallowance under Sec. 14A should not exceed the actual dividend income received by the assessee. The AO was directed to recompute the disallowance, limiting it to investments yielding dividend income and ensuring it does not surpass the actual dividend income earned. The order was pronounced on 24th February 2016. en-us Wed, 24 Feb 2016 00:00:00 +0530 Mon, 01 Aug 2016 16:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185127 The ITAT Mumbai allowed the appeal filed by the assessee concerning the disallowance of expenditure under Sec. 14A of the Act. The ITAT held that only investments generating dividend income should be considered for disallowance, and the disallowance under Sec. 14A should not exceed the actual dividend income received by the assessee. The AO was directed to recompute the disallowance, limiting it to investments yielding dividend income and ensuring it does not surpass the actual dividend income earned. The order was pronounced on 24th February 2016. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185127