https://www.taxtmi.com/caselaws?id=333325 The appellate tribunal upheld the decision of the Commissioner of Income-Tax (Appeals) to restrict the disallowance under section 14A of the Income Tax Act based on the ratio of dividend income to total income for the assessment years 2006-07 and 2007-08. The tribunal found that the Assessing Officer wrongly applied Rule 8D of the Income Tax Rules, which was not applicable for those years. The tribunal concluded that the disallowance made by the Assessing Officer was not sustainable and dismissed the revenue's appeals for both assessment years. en-us Wed, 18 May 2016 00:00:00 +0530 Mon, 10 Oct 2016 13:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333325 The appellate tribunal upheld the decision of the Commissioner of Income-Tax (Appeals) to restrict the disallowance under section 14A of the Income Tax Act based on the ratio of dividend income to total income for the assessment years 2006-07 and 2007-08. The tribunal found that the Assessing Officer wrongly applied Rule 8D of the Income Tax Rules, which was not applicable for those years. The tribunal concluded that the disallowance made by the Assessing Officer was not sustainable and dismissed the revenue's appeals for both assessment years. Case-Laws Income Tax Wed, 18 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333325