https://www.taxtmi.com/caselaws?id=186425 The appeal involved a dispute over disallowance under section 14A read with Rule 8D of IT Rules, 1962 and the levy of interest under section 234B concerning assessment under section 115JB. The Tribunal ruled in favor of the appellant regarding the disallowance issue, directing a reassessment by the Assessing Officer based on the non-retrospective application of Rule 8D. However, concerning the interest under section 234B, the Tribunal upheld the decision of the CIT (A) but instructed a recalculation by the Assessing Officer in line with the Tribunal's order. The appeal was partially allowed for statistical purposes following the Tribunal's directives. en-us Fri, 13 Apr 2012 00:00:00 +0530 Sat, 17 Sep 2016 10:22:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186425 The appeal involved a dispute over disallowance under section 14A read with Rule 8D of IT Rules, 1962 and the levy of interest under section 234B concerning assessment under section 115JB. The Tribunal ruled in favor of the appellant regarding the disallowance issue, directing a reassessment by the Assessing Officer based on the non-retrospective application of Rule 8D. However, concerning the interest under section 234B, the Tribunal upheld the decision of the CIT (A) but instructed a recalculation by the Assessing Officer in line with the Tribunal's order. The appeal was partially allowed for statistical purposes following the Tribunal's directives. Case-Laws Income Tax Fri, 13 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186425