https://www.taxtmi.com/caselaws?id=192209 The ITAT Mumbai allowed the appeal in favor of the assessee, directing the Assessing Officer to limit the disallowance under section 14A read with Rule 8D to the amount of exempt income earned, following established legal principles and precedents. The tribunal emphasized that the disallowance should not exceed the exempt income, as per previous rulings. The decision was pronounced on 19th July 2016 by the ITAT Mumbai bench comprising D. Karunakara Rao and Sanjay Garg. en-us Tue, 19 Jul 2016 00:00:00 +0530 Sat, 20 May 2017 08:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192209 The ITAT Mumbai allowed the appeal in favor of the assessee, directing the Assessing Officer to limit the disallowance under section 14A read with Rule 8D to the amount of exempt income earned, following established legal principles and precedents. The tribunal emphasized that the disallowance should not exceed the exempt income, as per previous rulings. The decision was pronounced on 19th July 2016 by the ITAT Mumbai bench comprising D. Karunakara Rao and Sanjay Garg. Case-Laws Income Tax Tue, 19 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192209