https://www.taxtmi.com/caselaws?id=365892 The Appellate Tribunal upheld the disallowance of interest under section 14A read with Rule 8D, emphasizing correct computation methods. It also affirmed the necessity of maintaining separate accounts for loans and advances to ensure accurate disallowance calculations. The Tribunal considered the applicability of Rule 8D and limited disallowance to not exceed exempt income earned. It emphasized the importance of not raising new grounds in appeal without proper procedure and maintained status quo based on decisions of higher courts, dismissing revenue's contentions. en-us Thu, 23 Aug 2018 00:00:00 +0530 Sat, 25 Aug 2018 09:28:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365892 The Appellate Tribunal upheld the disallowance of interest under section 14A read with Rule 8D, emphasizing correct computation methods. It also affirmed the necessity of maintaining separate accounts for loans and advances to ensure accurate disallowance calculations. The Tribunal considered the applicability of Rule 8D and limited disallowance to not exceed exempt income earned. It emphasized the importance of not raising new grounds in appeal without proper procedure and maintained status quo based on decisions of higher courts, dismissing revenue's contentions. Case-Laws Income Tax Thu, 23 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365892