https://www.taxtmi.com/caselaws?id=353864 The Tribunal upheld the CIT(A)'s decision, ruling in favor of the assessee in a tax dispute concerning disallowances under Section 14A read with Rule 8D(2)(ii) and Rule 8D(2)(iii) of the Income Tax Act. The Tribunal confirmed that no disallowance was warranted under Rule 8D(2)(ii) due to the assessee's surplus funds for investments. Additionally, the Tribunal directed the Assessing Officer to recompute the disallowance under Rule 8D(2)(iii) by considering only dividend-bearing securities, reducing it by the amount already disallowed by the assessee. The appeals by the Revenue were partially allowed. en-us Wed, 10 Jan 2018 00:00:00 +0530 Sat, 13 Jan 2018 08:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353864 The Tribunal upheld the CIT(A)'s decision, ruling in favor of the assessee in a tax dispute concerning disallowances under Section 14A read with Rule 8D(2)(ii) and Rule 8D(2)(iii) of the Income Tax Act. The Tribunal confirmed that no disallowance was warranted under Rule 8D(2)(ii) due to the assessee's surplus funds for investments. Additionally, the Tribunal directed the Assessing Officer to recompute the disallowance under Rule 8D(2)(iii) by considering only dividend-bearing securities, reducing it by the amount already disallowed by the assessee. The appeals by the Revenue were partially allowed. Case-Laws Income Tax Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353864