https://www.taxtmi.com/caselaws?id=194868 The ITAT upheld the disallowance under section 14A read with Rule 8D, emphasizing the AO's adherence to the prescribed methodology despite the lack of explicit satisfaction. The ITAT also agreed with the assessee on the disallowance of interest, restricting it to a lesser amount due to specific circumstances. Additionally, the ITAT disagreed with the Ld. CIT (A) on the disallowance of administrative expenses, reducing the amount based on the absence of fresh investments. The appeal against the Ld. CIT (A)'s decision was partially allowed, with modifications to the disallowance amount in favor of the assessee. en-us Fri, 06 Jan 2017 00:00:00 +0530 Wed, 04 Oct 2017 06:08:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194868 The ITAT upheld the disallowance under section 14A read with Rule 8D, emphasizing the AO's adherence to the prescribed methodology despite the lack of explicit satisfaction. The ITAT also agreed with the assessee on the disallowance of interest, restricting it to a lesser amount due to specific circumstances. Additionally, the ITAT disagreed with the Ld. CIT (A) on the disallowance of administrative expenses, reducing the amount based on the absence of fresh investments. The appeal against the Ld. CIT (A)'s decision was partially allowed, with modifications to the disallowance amount in favor of the assessee. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194868