https://www.taxtmi.com/caselaws?id=353850 The Tribunal ruled that no disallowance of interest expenses was warranted under Rule 8D(2)(ii) as the assessee's own funds exceeded investments. Disallowance under Rule 8D(2)(iii) should only consider investments yielding dividend income. Strategic investments in subsidiaries were to be excluded from disallowance calculations. The Tribunal partly allowed the Revenue's appeal and fully allowed the assessee's cross-objection, instructing the AO to adjust disallowances accordingly. en-us Wed, 06 Dec 2017 00:00:00 +0530 Sat, 13 Jan 2018 08:53:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353850 The Tribunal ruled that no disallowance of interest expenses was warranted under Rule 8D(2)(ii) as the assessee's own funds exceeded investments. Disallowance under Rule 8D(2)(iii) should only consider investments yielding dividend income. Strategic investments in subsidiaries were to be excluded from disallowance calculations. The Tribunal partly allowed the Revenue's appeal and fully allowed the assessee's cross-objection, instructing the AO to adjust disallowances accordingly. Case-Laws Income Tax Wed, 06 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353850