https://www.taxtmi.com/caselaws?id=190038 The case involved a challenge to section 14A disallowances by the assessee and the Revenue, focusing on the application of Rule 8D, expenditure allocation for taxable income, and proportionate disallowances. The CIT(A) upheld that Rule 8D does not apply to assessment years preceding 2008-09. The tribunal upheld proportionate disallowances based on the assessee's substantial exempt income, leading to the dismissal of appeals by both parties. en-us Wed, 20 Jan 2016 00:00:00 +0530 Thu, 02 Feb 2017 12:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190038 The case involved a challenge to section 14A disallowances by the assessee and the Revenue, focusing on the application of Rule 8D, expenditure allocation for taxable income, and proportionate disallowances. The CIT(A) upheld that Rule 8D does not apply to assessment years preceding 2008-09. The tribunal upheld proportionate disallowances based on the assessee's substantial exempt income, leading to the dismissal of appeals by both parties. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190038