https://www.taxtmi.com/caselaws?id=359691 The Tribunal allowed the appeal on the limited aspect of disallowance under section 14A of the Income Tax Act. It found that the assessee had sufficient own funds for investments, with no borrowed funds used, and directed the AO to reconsider the disallowance calculation under Rule 8D(2)(iii) only for investments generating exempt income. The Tribunal upheld the grounds raised by the assessee and reduced the disallowance previously made, ultimately ruling in favor of the assessee on the issue of disallowance under section 14A. en-us Wed, 02 May 2018 00:00:00 +0530 Thu, 03 May 2018 06:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359691 The Tribunal allowed the appeal on the limited aspect of disallowance under section 14A of the Income Tax Act. It found that the assessee had sufficient own funds for investments, with no borrowed funds used, and directed the AO to reconsider the disallowance calculation under Rule 8D(2)(iii) only for investments generating exempt income. The Tribunal upheld the grounds raised by the assessee and reduced the disallowance previously made, ultimately ruling in favor of the assessee on the issue of disallowance under section 14A. Case-Laws Income Tax Wed, 02 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359691