https://www.taxtmi.com/caselaws?id=195545 The Tribunal dismissed the revenue's appeal, upholding the deletion of the disallowance under section 14 A of the Income Tax Act read with Rule 8D. It emphasized that the disallowance should not exceed the actual dividend income received, and as the assessee had already voluntarily disallowed an amount exceeding the exempt income, no further disallowance was justified. The decision underscored the necessity of adhering to legal provisions and precedents in tax matters, ultimately affirming the Commissioner of Income Tax (Appeals)'s ruling. en-us Thu, 09 Feb 2017 00:00:00 +0530 Fri, 03 Nov 2017 10:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195545 The Tribunal dismissed the revenue's appeal, upholding the deletion of the disallowance under section 14 A of the Income Tax Act read with Rule 8D. It emphasized that the disallowance should not exceed the actual dividend income received, and as the assessee had already voluntarily disallowed an amount exceeding the exempt income, no further disallowance was justified. The decision underscored the necessity of adhering to legal provisions and precedents in tax matters, ultimately affirming the Commissioner of Income Tax (Appeals)'s ruling. Case-Laws Income Tax Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195545