https://www.taxtmi.com/caselaws?id=338242 The case involved a dispute over disallowance under section 14A of the Income Tax Act. The First Appellate Authority (FAA) deleted the addition made by the Assessing Officer (AO) on interest expenditure and directed the computation of administrative expenses at 0.5% of the average investment. The Tribunal upheld the FAA's decision, emphasizing the need for a reasonable method to calculate disallowance before the applicability of Rule 8D. The Tribunal relied on interpretations of judgments by the Hon'ble Bombay High Court and dismissed the Revenue's appeal. The assessment of administrative expenses for disallowance under section 14A was upheld, with other grounds raised by the assessee dismissed. en-us Fri, 06 Jan 2017 00:00:00 +0530 Sun, 29 Jan 2017 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338242 The case involved a dispute over disallowance under section 14A of the Income Tax Act. The First Appellate Authority (FAA) deleted the addition made by the Assessing Officer (AO) on interest expenditure and directed the computation of administrative expenses at 0.5% of the average investment. The Tribunal upheld the FAA's decision, emphasizing the need for a reasonable method to calculate disallowance before the applicability of Rule 8D. The Tribunal relied on interpretations of judgments by the Hon'ble Bombay High Court and dismissed the Revenue's appeal. The assessment of administrative expenses for disallowance under section 14A was upheld, with other grounds raised by the assessee dismissed. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338242