https://www.taxtmi.com/caselaws?id=339575 For AY 2007-08, the Tribunal partially allowed the assessee's appeal by restricting disallowance to 5% of exempt income and allowing interest expenditure. The Tribunal dismissed the Revenue's appeal as the disallowance under Section 14A covered the interest expenditure. In AY 2008-09, the Tribunal directed the exclusion of strategic investments from disallowance computation under Section 14A, aligning with judicial precedents. The assessee's appeal was partly allowed, and the Revenue's appeal was dismissed, emphasizing the allowance of interest expenditure for strategic investments. en-us Fri, 10 Feb 2017 00:00:00 +0530 Thu, 02 Mar 2017 07:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339575 For AY 2007-08, the Tribunal partially allowed the assessee's appeal by restricting disallowance to 5% of exempt income and allowing interest expenditure. The Tribunal dismissed the Revenue's appeal as the disallowance under Section 14A covered the interest expenditure. In AY 2008-09, the Tribunal directed the exclusion of strategic investments from disallowance computation under Section 14A, aligning with judicial precedents. The assessee's appeal was partly allowed, and the Revenue's appeal was dismissed, emphasizing the allowance of interest expenditure for strategic investments. Case-Laws Income Tax Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339575