https://www.taxtmi.com/caselaws?id=342685 The Tribunal ruled in favor of the assessee in appeals ITA No. 135/Jodh/2017 and ITA No. 133/Jodh/2017, holding that the applicability of Section 14A with Rule 8D was not valid. The Tribunal overturned the CIT(A)'s decision, emphasizing that interest payments were tied to specific loans and investments, and the assessee had ample interest-free funds and capital for investments. Additionally, the Tribunal directed a correct recalculation or removal of the disallowance under Rule 8D(2). en-us Fri, 05 May 2017 00:00:00 +0530 Wed, 10 May 2017 07:23:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342685 The Tribunal ruled in favor of the assessee in appeals ITA No. 135/Jodh/2017 and ITA No. 133/Jodh/2017, holding that the applicability of Section 14A with Rule 8D was not valid. The Tribunal overturned the CIT(A)'s decision, emphasizing that interest payments were tied to specific loans and investments, and the assessee had ample interest-free funds and capital for investments. Additionally, the Tribunal directed a correct recalculation or removal of the disallowance under Rule 8D(2). Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342685